Lupin Net Falls 31%, Still Beats Estimates
Income from operations fell less sharply than the net profit in Sept Quarter
Mumbai: Lupin, India’s leading drugmaker, reported a 31% drop in its net profit for the September quarter, but the decline was far less pronounced than what had been estimated by analysts. The Mumbai-based company reported a net profit of ₹ 455 crore in the three months to September 30, compared with ₹ 662 crore last year in the same quarter. The company’s income from operations fell less sharply than the net profit, at 7% to ₹ 3,951 crore from ₹ 4,290 crore in the same period a year ago. Lupin said complex generics would underpin growth in the areas of biosimilars and respiratory ailments. “Despite the slowdown in US, the potential there still exists,” CEO Vinita Gupta told ET when asked about the future of Indian pharma in the US that was once the most profitable market for local drug-makers.