Lupin Q2 PAT rises 73% on strong growth across key global markets

Lupin's consolidated profit rose 73% YoY to Rs 1,478 crore in Q2 FY26, led by robust sales in India and the US and higher margins from an improved product mix

Pharmaceutical major Lupin Limited has reported a 73.3 per cent year-on-year (YoY) surge in consolidated net profit, comfortably beating market expectations. The results, declared on Thursday post-market hours, were driven by strong growth across key global markets.

 

How did Lupin perform in Q2 FY26?

 

For the quarter ended September 30, 2025, Lupin’s consolidated net profit rose to Rs 1,478 crore, compared with Rs 853 crore in Q2 FY25. Revenue from operations grew 24.2 per cent to Rs 7,048 crore from Rs 5,673 crore in the same period last year.

 

What factors boosted profitability and margins?

 

Operational efficiency was a key highlight, with earnings before interest, taxes, depreciation, and amortisation (EBITDA) margin expanding to 33.2 per cent from 25.2 per cent a year ago. The improvement was attributed to a favourable product mix and effective cost management initiatives. 

 

Which markets contributed most to Lupin’s growth?

 

Growth was largely driven by robust demand in the Indian and US markets. North American sales accounted for 36 per cent of global revenue, while the India formulation business contributed 37 per cent, registering an 18.8 per cent growth. New product launches, including complex generics, played a significant role in boosting sales.

 

What is the market outlook for Lupin?

 

Analysts have reacted positively to the company’s performance, with several maintaining ‘buy’ ratings. They cited strong business momentum, a growing product pipeline, and operational leverage as key drivers for future growth.

 

Lupin shares closed at Rs 1,970 on Thursday, down slightly, but have shown steady upward momentum in recent months.