Lupin Share Price Falls 3% Post Q2 Loss; CLSA Retains Sell

Share price of Lupin was trading lower by over 3 percent intraday on Thursday after CLSA maintained sell call on the stock and has cut target to Rs 650 from Rs 660 per share.

The research firm is of the view that Solosec ramp-up remains weak and US generic launch pipeline remains thin adding that building in Rs 540 crore provision has led to cut FY20 EPS by 36 percent. The firm has also cut FY21-22 EPS estimates by 5-6 percent.

Lupin reported a consolidated net loss of Rs 127.1 crore in the quarter-ended September as against a profit of Rs 266 crore in the same period last fiscal and Rs 303 crore in Q1 FY20. The pharma company posted a one-time loss of Rs 546.5 crore. However, profit before one-time loss stood at Rs 457.3 crore.

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