Sensex, Midcap recover sharply from lows; Lupin dips 4% post Q3 nos

Lupin’s third quarter earnings disappointed analysts on Tuesday as consolidated profit fell sharply by 65 percent year-on-year to Rs 221.7 crore due to continued pricing pressure in the US and weak operational performance.

Profit during the year-ago period was at Rs 633.11 crore, the company said.

Revenue from operations, which came in line with estimates, fell 11.3 percent to Rs 3,976.6 crore compared to Rs 4,482.9 crore in same quarter last year.

Profit was expected at Rs 426.6 crore on revenue of Rs 3,935.4 crore for the quarter, according to average of estimates of analysts polled by CNBC-TV18.

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