Lupin jumps 5% on strong Q2 performance; brokerages tag BUY - check price targets

Lupin Share Price: Shares of Lupin rallied 5 per cent on Thursday, November 8, after the company announced a consolidated net profit of Rs 130 crore for September quarter 2022-23. The stock jumped 5.16 per cent to Rs 729.85 on the BSE. At the NSE, it rallied 5.04 per cent to Rs 729.25.

The drug maker on Wednesday said its consolidated net profit stood at Rs 130 crore for the second quarter ended September 30, 2022. The Mumbai-based company had reported a net loss of Rs 2,098 crore for July-September period a year ago.

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Brokerages have given a positive view on Lupin post declaration of the second quarter result: 

Lupin Limited Q2 results- 

Total revenue from operations was at Rs 4,145 crore during the quarter as compared to Rs 4,091 crore in the year-ago period.
 
The net debt of Lupin as on September 30, 2022, stood at Rs 2931.6 crore. Its India formulation sales for Q2 FY2023 were Rs 1584.1 crore. India Region Formulations sales grew by 5.8 per cent in the quarter as compared to Q1 FY2023; up 5 per cent as compared to Q2 FY2022. 

Lupin launched 6 brands across therapies during the second quarter. 

Lupin stock has delivered a negative return of over 20 per cent in 2022 so far. The stock's 52-week range is Rs 972.40 - Rs 583.  

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