Lupin's Q2 net profit falls 41% to Rs 2.66 bn as sales slip in US

Lupin sees improvement in its core US business in the second half of the fiscal year after reporting a 41.5 per cent decline in net profit in the second quarter of FY19. Net profit  stood at Rs 2.68 billion compared to Rs 4.53 billion in the year-ago period. 

Revenue growth was flat at Rs 38.90 billion on a y-o-y basis. Sequentially, however, sales grew 3.1 per cent and profit rose 5.4 per cent as rupee depreciation boosted its earnings. Lupin said 60 per cent of the growth in the quarter came from favourable currency impact.