Drug maker Lupin on Thursday announced 30% year-on-year decline in net profit at Rs. 161 crore for the fourth quarter ended March 31, 2012 compared to Rs. 229 crore a year earlier on higher tax expenses.
The company's total tax expense rose to Rs. 135 crorefrom Rs. 31 crore in the previous fiscal.
However, net sales of the company rose by 25% to Rs. 1,883 crore as against Rs. 1,512 crore in the previous financial year. For the year ended March 31, the company posted a net profit of Rs. 888 crore from Rs. 879 crore a year ago.