Bengaluru: Indian drugmaker Lupin Ltd posted a surprise quarterly loss on Wednesday after taking a one-time charge related to litigation over a blood pressure drug. Lupin made a provision of ₹342 crore ($47.7 million) after the General Court of the European Union in December upheld a 2014 European Commission decision on a fine against Lupin related to the blood pressure drug Perindopril, it said. Lupin had a net loss of ₹152 crore compared to a profit of ₹222 crore in the same quarter last year, the company said. An average of estimates from 18 analysts had expected a profit of ₹289 crore, according to Refinitiv Eikon data. Lupin's sales rose 12.2% to ₹4,370 crore in the quarter.

Source: Mint February 06, 2019 10:05 UTC