Lupin Q3 profit plunges 72% to Rs 153 crore due to high base, revenue grows 4%

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26 Aug, 2025 12:21

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Pharma major Lupin on February 10 reported a consolidated profit at Rs 153.5 crore for December 2022 quarter, down 72 percent from the same quarter of the previous fiscal year when it had a high base due to net tax rebate of Rs 382 crore.

Impacted by a fall in US sales, consolidated revenue advanced albeit marginally by 3.9 percent year-on-year (YoY) to Rs 4,322 crore in Q3FY23.

"North America sales for Q3 FY2023 were Rs 1,527.1 crore, down 3.2 percent compared to Rs 1,577.5 crore in Q3FY22, which accounted for 36 percent of global sales. In Q3FY23 sales were $177 million compared to $202 million in Q3FY22, down 12.4 percent YoY, but grew by 11.3 percent sequentially," Lupin said in a stock exchange filing.

The company filed 7 ANDAs (abbreviated new drug applications) during the quarter, received 2 ANDA approvals from the US FDA, and launched 4 products in the US. The company now has 166 generic products in the US.

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"India formulation sales, which accounted for 36 percent to global sales, were Rs 1,521.3 crore for Q3FY23, up 3.3 percent over a year-ago period, while growth markets, which contributed 10 percent to global sales, grew by 23.5 percent YoY to Rs 418.7 crore during the quarter," the company said.

Europe, Middle East and Africa (EMEA) sales accounted for 9 percent of total sales, registering a 11.1 percent on-year growth at Rs 380.2 crore for the quarter ended December FY23.

The operating performance was very strong with EBITDA (earnings before interest, tax, depreciation and amortisation) increasing by 44 percent year-on-year to Rs 532.7 crore for the quarter, with margin expansion of 343 bps YoY at 12.3 percent, beating analysts expectations.

According to the average of estimates of analysts polled by CNBC-TV18, EBITDA was estimated at Rs 516 crore with margin at 12.2 percent for the quarter.