Stock advisory Company, Lupin slips over 7%, hits fresh 52-week low; CLSA downgrades cuts target price

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The pharma major reported 49.2 percent YoY decline in the net profit to Rs 380.2 crore in the fourth quarter ended March on account of drop in US sales and a one-time provisioning

Lupin slipped as much as 7.6 percent to hit its fresh 52-week low of Rs 1,133.50 on Thursday, after the pharma major reported 49.2 percent YoY decline in the net profit to Rs 380.2 crore in the fourth quarter ended March on account of drop in US sales and a one-time provisioning on account of patent litigation over generic oral contraceptive drug in Australia.

The company posted Rs.747.9 crore of in the same period the previous year. Revenues rose by 1.3 percent to Rs 4,253.3 crore.