According to traders, Q2 earnings of Lupin may lag estimates and net profit of Lupin has seen near Rs 520 crore. (Express Photo)
Lupin share price fell over 2 per cent in the morning trade on Tuesday on caution ahead of its Q2 earnings which are due later in the day. At 11.34 am, Lupin shares were trading 2.62 per cent down at Rs 1999.65.
The share price of the pharma major opened at Rs 2,015 and had touched a high and low of Rs 2,023 and Rs 1,992.95, respectively, in trade so far. Sensex was down 0.39 per cent at 27,256.
According to traders, Q2 earnings of Lupin may lag estimates and net profit of Lupin has seen near Rs 520 crore.
Consensus estimate for Q2 net profit at Rs 568 crore, according to Eikon data.
KR Choksey shares and Securities in a research note said, “We expect revenues & earnings of Lupin to be impacted on YoY basis basis due to higher base in Q2FY15 and lack of high value launches and generic competition entry in Suprax in US business.”
(With inputs from Reuters)
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