Categories: Business

Lupine gains Rs 107 crore in first quarter, Vodafone-Idea shares fall

Photo: BUSINESS STANDARD

Lupine Q1 net profit drops 65 pc to Rs 107 crore

new Delhi. Pharmaceutical company Lupine said on Friday that its consolidated net profit during the June 2020 quarter declined by 64.72 percent to Rs 106.90 crore due to the Corona virus epidemic. The company told the stock market that its net profit in the same quarter of the previous financial year was Rs 303.05 crore.

The company said its cumulative income from operations was Rs 3,527.9 crore during the period under review, compared to Rs 3,877.7 crore in the same period a year ago. Lupine MD Nilesh Gupta said the quarterly performance was affected by the Kovid-19 epidemic and the lockdown that ensued. During this time our major businesses in India and America were affected. We are focusing on business continuity while ensuring employee safety.

Vodafone Idea shares fell 8 percent

On Friday, the share price of Vodafone Idea lost 8 percent. The company incurred a net loss of Rs 25,460 crore in the June quarter, after which it saw a decline in shares. In early trading on BSE, the company's stock was trading 7.39 percent at Rs 7.64. It was down 7.87 percent at Rs 7.60 on the NSE.

The country's third largest telecom company incurred a loss of Rs 4,874 crore in April-June 2019 and Rs 11,643 crore in the March quarter. The company incurred a total loss of Rs 73,878 crore during the financial year 2019-20.

This post was published on August 7, 2020 1:06 pm

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