Lupin Q2 Net Profit Falls 22.19% to Rs 1,155.3 Cr

New Delhi: Homegrown pharma major Lupin on Wednesday posted a 22.19 per cent decline in consolidated net profit to Rs 1,155.30 crore in the September quarter, dragged by an exceptional item and a drop in operating income.

The company had reported a net profit of Rs 1,484.83 crore in the corresponding period of the previous fiscal, it said in a regulatory filing.

Revenue from operations stood at Rs 7,827.26 crore during the quarter under review, up from Rs 7,047.51 crore in the year-ago period, it said.

Lupin’s total expenses also rose to Rs 6,374.46 crore during the quarter from Rs 5,130.54 crore in the same period a year ago.

During the April-September period of FY27, Lupin’s net profit declined 4.95 per cent to Rs 2,572.28 crore from Rs 2,706.29 crore a year earlier, the filing said.

During the six months ended September 30, 2026, Lupin Pharmaceuticals Inc USA, a wholly-owned subsidiary of the group, settled one of the ongoing antitrust matters for Rs 316.28 crore (USD 35.8 million) without admission of liability or wrongdoing, the drugmaker said in the filing.

The group continues to carry the remaining provision towards future settlements related to similar cases, it added.

The company in its investor presentation listed a significant drop in other operating income, and pricing and volume headwinds in the US market that impacted the company’s performance during the quarter.

Other operating income fell steeply by 80.7 per cent to Rs 41.8 crore from Rs 216.1 crore during the quarter.

In the US market, increased competition and loss of exclusivity on key products also impacted Lupin’s quarterly numbers, as per the investor presentation.

Meanwhile, the company’s US sales during the September quarter came in at Rs 3,020.2 crore, up 9.3 per cent compared to Rs 2,762.4 crore a year earlier.

Lupin continues to be the third-largest pharmaceutical player in both the US generic market and US total market by prescriptions as per IQVIA Quarter September 2026, the company said in a release.

India sales for Q2 FY27 stood at Rs 2,383.6 crore, up 14.7 per cent compared to Rs 2,077.7 crore in Q2 FY26. The India sales accounted for 31 per cent of Lupin’s global sales, the release added.

Lupin Managing Director Nilesh Gupta said, “We delivered a strong first half of FY27, underpinned by solid growth across key markets and sustained profitability. While we remain mindful of near-term challenges, we are confident in our long-term growth prospects, supported by the strength of our portfolio, continued investments in R&D and commercial capabilities, and our unwavering focus on disciplined execution.”

The company’s shares settled nearly flat at Rs 2,015 apiece, up 0.15 per cent, on the BSE.

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