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Lupin's profit dips 31 per cent on weak US sales

Revenue fell 7.9 per cent to Rs 3,952 crore on a year-on-year basis with weak US business contributing to the decline

Aneesh Phadnis  |  Mumbai 

Lupin Pharma

Continued pricing pressure and increase in competition in the market led to 31 per cent year-on-year decline in consolidated net of maker in second quarter FY 2018. Net for the quarter was Rs 455 crore as against Rs 662 crore in same period last year. fell 7.9 per cent to Rs 3,952 crore on a year-on-year basis with weak business contributing to the decline. Earnings before interest tax depreciation and amortisation(Ebitda) was 12.3 per cent lower at Rs 927 crore. Lupin's net and Ebidta were 2.5 per cent and 6.5 higher than Bloomberg estimate but they were below on sales. “In Q2 we have recorded strong growth in all our markets but for the generic business, where we continue to see pricing pressure as expected, the Ebidta growth was further fueled by our optimisation efforts around and R&D investment.

We are on track with our complex generic pipeline and have made significant progress on the speciality product with the acquisition of in the US,” said Nilesh Gupta, managing director, in a statement. earns around half of its from market. Its key products including anti-diabetes drugs – and have seen a price erosion due to competition. As such the company's business reported a drop both on a sequential and a year on year basis.

First Published: Mon, October 30 2017. 15:37 IST