BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
KRChoksey Research Report
Lupin Ltd. reported a marginal decline in revenue at 1.6% YoY (down 5.8% QoQ) to Rs 37,831 million in Q4 FY21 due to 5.3% YoY (up 3.7% QoQ) decline in the North America revenue to Rs 14,952 million.
The QoQ decline in total revenue, however, can be attributed to a 5.9% QoQ decline in India revenue to Rs 12,866 million.
Ebitda margin expanded by 504 basis points YoY to 18.7% in Q4 FY21 (from 13.7% in Q4 FY20) due to improved gross margins YoY.
However, Ebitda margin contracted by 68 bps QoQ, due to lower gross margins, partially offset by, stable other expenses QoQ.
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