Lupin share price gains 8% after reporting Rs 129.7-crore profit in Q2

Revenue of the company was up 1.3% at Rs 4,145.5 crore versus Rs 4,091.3 crore, YoY.

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Lupin share price rose more than 8 percent intraday on November 10 – a day after the company reported its earnings and turned profitable for the quarter ended September 2022.

Lupin has recorded net profit of Rs 129.7 crore for the quarter under review as against a loss of Rs 2,098 crore a year ago.

Revenue of the company was up 1.3 percent at Rs 4,145.5 crore as against Rs 4,091.3 crore a year back.

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Here is what brokerages have to say about stock and the company post June quarter earnings

Macquarie

Research firm Macquarie has kept outperform rating on the stock with a target at Rs 790 per share.

The profitability misses on in-line revenue and the miss is due to absence of cost savings.

Earnings before interest, tax, depreciation and amortization (EBITDA) and profit missed by 14  percent and 45 percent, respectively, reported CNBC-TV18.

Nomura

Brokerage house Nomura has kept buy rating on the stock with a target at Rs 863 per share.

The Q2 sales and EBITDA 2.8 percent/11.7 percent were above the estimates. Its net earnings came in 12 percent below the forecasts.

The management expects EBITDA margin to reach 18 percent by FY23 end, reported CNBC-TV18.

At 09:58 hrs Lupin was quoting at Rs 729.45, up Rs 35.40, or 5.10 percent on the BSE.

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