Lupin’s net profit dips to Rs 380.21 cr

NEW DELHI: Drug firm Lupin on Wednesday reported a 49.61 per cent dip in consolidated net profit to Rs 380.21 crore for the fourth quarter ended March, mainly on account of increase in expenses and impact of foreign exchange fluctuation. The company had posted a net profit of Rs 747.88 crore in the corresponding quarter of previous fiscal, Lupin said in a BSE filing, reports PTI. However, consolidated total revenue from operations rose to Rs 4,253.30 crore for the quarter under consideration as against Rs 4,197.42 crore for the same period year ago. Net profit for the fiscal year ended March this year stood at Rs 2,557.46 crore as against Rs 2,260.74 crore for the year-ago period. Total revenue from operations of the company also rose to Rs 17,494.33 crore for the fiscal year ended March 31, 2017. It was Rs 14,255.54 crore for the previous fiscal year.