Lupin posts surprise Q4 loss at Rs784 crore on one-time charge

Bengaluru: 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 31 March came in at Rs784 crore ($115.57 million) compared with a profit of Rs380 crore a year earlier, it said in a statement.

Fifteen analysts on average expected a profit of Rs320 crore, according to Thomson Reuters data.

The company saw a one-time impairment charge of about Rs1,464 crore in relation to the Gavis group acquisition during the quarter.