Lupin Net Falls 31%, Still Beats Es­ti­mates

In­come from op­er­a­tions fell less sharply than the net profit in Sept Quar­ter

The Economic Times - - Companies: Pursuit Of Profit Catch The Signal: Gea - Our Bureau

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.

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