NEW DELHI: Lupin Ltd reported a 35% year-on-year jump in its January-March (Q4) consolidated net profit to ₹389.6 crore on account of a one-time gain accrued from the divestment of its stake in Japanese firm Kyowa Pharmaceuticals even as the company’s operational performance was hit by a fall in sales in US and Asia Pacific markets.
The Mumbai-based drug-maker had in November announced the sale of entire 99.82% stake in its Japanese subsidiary Kyowa Pharmaceutical Industry Co Ltd for an enterprise value of 57.4 billion yen to Plutus Ltd, a firm owned by Japanese private equity firm Unison.
While most of the profit from the sale was accounted for in the December quarter, about ₹121 crore million was accounted for in the January-March