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

Continued pricing pressure and increase in competition in the US market led to 31 per cent year-on-year decline in consolidated net profit of drug maker Lupin in second quarter FY 2018.

Net profit for the quarter was Rs 455 crore as against Rs 662 crore in same period last year. 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. Earnings before interest tax depreciation and amortisation(Ebitda) was 12.3 per cent lower at Rs 927 crore.

Lupin's net profit and Ebidta were 2.5 per cent and 6.5 higher than Bloomberg estimate