Lupin share fell over 2% intra day today despite the firm reporting a 266% rise in Q2 net profit. The stock has fallen after 3 days of consecutive gain. The stock touched an intraday low of Rs 922, down 2.36% against previous close of Rs 944.25 on BSE.
The share trades higher than 5 day and 200 day moving averages but lower than 20 day, 50 day and 100 day moving averages. The share rose 24% in one year and gained 22.32% since the beginning of this year. Total 2.03 lakh shares of the firm changed hands amounting to turnoevr of Rs 18.95 crore on BSE. Later, the share closed 0.91% lower at Rs 935.65 on BSE.
Lupin reported a consolidated net profit of Rs 211.02 crore in Q2 against a net loss of Rs 127.07 crore for the corresponding period of the previous fiscal.
Net profit rose mainly on account of robust sales in the US market. Total revenue from operations stood at Rs 3,835 crore in Q2 against Rs 3,822.21 crore for the same period a year ago.
Lupin's North America sales for Q2 FY2021 were at Rs 1,398.4 crore compared to sales of Rs 1,324.4 crore during Q2 FY2020, accounting for 37 per cent of the company's global sales, the firm said.