Lupin net dips 30%, sales rise

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.

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.

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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.