May 15, 2018 / 9:41 AM / 11 days ago

India's Lupin posts surprise Q4 loss on one-time charge

May 15 (Reuters) - Lupin Ltd, India’s second-largest drugmaker by revenue, reported a surprise loss in its fiscal fourth quarter on Tuesday, due to a one-time charge.

Net loss for the quarter ended March 31 came in at 7.84 billion rupees ($115.57 million) compared with a profit of 3.80 billion rupees a year earlier, it said in a statement bit.ly/2IlDaOj.

Fifteen analysts on average expected a profit of 3.20 billion rupees, according to Thomson Reuters data.

The company saw a one-time impairment charge of about 14.64 billion rupees in relation to the Gavis group acquisition during the quarter.

$1 = 67.8375 Indian rupees Reporting By Arnab Paul and Krishna Kurup in Bengaluru, Editing by Sherry Jacob-Phillips and Biju Dwarakanath

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below