Lupin registers tepid growth in India revenues, US sales remain subdued

While the actual Dec quarter revenue was much more than estimates, the same was due to higher licensing income

Lupin’s December quarter performance was aided by good growth in the domestic formulations market. The India unit, which contributes 30 per cent to its overall revenues, registered a growth of 11.4 per cent year-on-year. 

North America sales (primarily US), which accounts for about 35 per cent of sales, remained subdued. 

The positive, however, was that sales in the US saw just a per cent decline compared to much higher declines in the past. On a sequential basis, it grew 13.5 per cent and this reflects the fact that the US generics business is turning around. 

The Street will keenly watch