Lupin stock rises to 52-week high after pharma firm beat Street estimates in December quarter results

Lupin Share Price: Lupin hit a 52-week high of Rs 1701.00 on BSE on Thursday (February 8, 2024) after the pharma company reported strong operational numbers that beat all parameters in its December quarter results. 

The stock of the pharma firm closed higher by 1.10 per cent, or Rs 17.50, at Rs 1613.15 on Thursday. 

Lupin Q3 results

The company reported a four-fold jump in its consolidated profit after tax, which skyrocketed to Rs 613 crore in the December quarter compared to Rs 153 crore year-on-Year (YoY), against Zee Business research estimates of Rs 427 crore.

Lupin's revenue from operations soared by 20 per cent to Rs 5197 crore in Q3 against Rs 4322 crore Year-on-Year (YoY), compared to estimates of Rs 4868 crore.

The firm's EBITDA for the third quarter was Rs 1037 crore against Rs 532 crore in the same quarter last fiscal, which translated into a leap of 95 per cent. It comfortably beat analysts' estimates of Rs 857 crore.

The company's revenue from Americas saw a rise of 24 per cent, India revenue was up by 13 per cent, and growth market revenue was higher by 13 per cent in the December quarter.

Macquarie maintains rating

After the strong third-quarter results of Lupin, brokerage Macquarie has maintained an 'outperform' rating on the firm, giving a target of Rs 1530.