Lupin announces dividend for FY21; sales decline in Q4FY21
Pharmaceutical major Lupin announced that the company’s board of directors has recommended a dividend at 325 per cent equivalent to Rs 6.50 per equity share of the face value of Rs 2 each for FY21.
Additionally, the company also announced its financial results for the quarter ended March 31, 2021. Sales for Q4FY21 declined by 0.8 per cent to Rs 3,759.3 crore from Rs 3,791 crore posted in Q4FY20. On the other hand, PAT rose by 18.9 per cent to be Rs 464.2 compared to Rs 390.3 crore reported in Q4FY20.
While total formulations sales were up by 1.2 per cent YoY, the sales of the API segment declined by 22.2 per cent YoY for Q4FY21. India formulations business registered a significant growth of 7.9 per cent YoY during Q4FY21.
Lupin being innovation-led transnational pharmaceutical company, develops and commercialises a wide range of branded & generic formulations, biotechnology products as well as APIs in over 100 markets in the US, India, South Africa, and across Asia Pacific (APAC), Latin America (LATAM), Europe and Middle East regions in various healthcare areas.
On Friday, the stock of the company was trading at Rs 1,182.50, down by 2.33 per cent or Rs 28.25 per share. Its 52-week high and 52-week low is Rs 1,246.30 and Rs 828.65, respectively on BSE.