Drug firm Lupin reported a 5-fold jump in its consolidated net profit at ₹542.46 crore for the quarter ended June 30, 2021. The company had posted a net profit of ₹106.9 crore for the corresponding period of the previous fiscal. The significant jump in June quarter net profit was on account of robust sales and income received from biopharmaceutical firm Boehringer Ingelheim for achieving key milestones for its novel MEK inhibitor compound collaboration. Speaking on Lupin share price outlook; Mudit Goel, Senior Research Analyst at SMC Global Securities said, “Lupin shares have strong support at ₹1020 and it is expected to remain intact. Indian ace investor Rakesh Jhunjhunwala holds 1.60% stake or 72,45,605 shares in Lupin as of June quarter, BSE shareholding data showed.

Source: Mint August 11, 2021 07:18 UTC