Despite a 22% (YoY) and 13% (QoQ) rise in sales at Rs.4237 crore and net profit at Rs.548 crore, up 406% (YoY) and up 18% (QoQ), the stock price of Lupin has tanked.

Despite a 22% (YoY) and 13% (QoQ) rise in sales at Rs.4237 crore and net profit at Rs.548 crore, up 406% (YoY) and up 18% (QoQ), the stock price of Lupin has tanked.

Currently the top loser on the BSE, the stock is down over 6% at Rs.986, slightly up from its intraday low at Rs.982. Its 10% LC for the day is at Rs.945.20.

The market has given the thumbs down to these numbers as it is more worried about the US sales, which contributed 35% to its total sales in Q1, was down 11% sequentially and up 10% on YoY.

Analysts had expected that its two authorized generic launches, Labuterola and Brovana would turn the tide in Q1Fy22, clocking US sales to the tune of $200 million but that came in at $172 million and that lowe-than-estimates, pulled down the stock price.

The market has given the thumbs down to these numbers as it is more worried about the US sales, which contributed 35% to its total sales in Q1, was down 11% sequentially and up 10% on YoY.

Analysts had expected that its two authorized generic launches, Labuterola and Brovana would turn the tide in Q1Fy22, clocking US sales to the tune of $200 million but that came in at $172 million and that lowe-than-estimates, pulled down the stock price.