Lupin posts bigger-than-expected rise in Q3 profit
Mumbai: Indian generic drugmaker Lupin reported a bigger-than-expected rise in its third-quarter profit on Wednesday, helped by strong demand in its North American and domestic markets.
Consolidated net profit after tax rose four-fold, to 6.13 billion rupees (nearly $74 million) in the quarter ended Dec. 31, beating analysts' average estimate of 4.56 billion rupees, according to LSEG data.
This is the fourth straight quarter profit more than doubled at the company.
Lupin's results follow those of larger generic drugmakers, including Dr. Reddy's , Cipla, and Sun Pharma , all of which beat their third-quarter profit estimates on strong U.S. sales.
Sales in North America grew nearly 24% during the quarter, boosted by strong demand for Lupin's generic version of Boehringer Ingelheim's Spiriva Handihaler, an inhaler used for bronchial asthma.
The company's sales in India also climbed 13.4%, driven by robust demand for its branded prescription and consumer health products, including popular items such as Life Be One capsule.
The combined revenue from India and the U.S. contributed around 70% to Lupin's total revenue.
This resulted in a 20% rise in the company's overall revenue to 51.97 billion rupees, surpassing analysts' expectations of 49 billion rupees.
Our comments section is governed by our Comments Policy . By posting comments at Medical Dialogues you automatically agree with our Comments Policy , Terms And Conditions and Privacy Policy .
Disclaimer: This website is primarily for healthcare professionals. The content here does not replace medical advice and should not be used as medical, diagnostic, endorsement, treatment, or prescription advice. Medical science evolves rapidly, and we strive to keep our information current. If you find any discrepancies, please contact us at corrections@medicaldialogues.in. Read our Correction Policy here. Nothing here should be used as a substitute for medical advice, diagnosis, or treatment. We do not endorse any healthcare advice that contradicts a physician's guidance. Use of this site is subject to our Terms of Use, Privacy Policy, and Advertisement Policy. For more details, read our Full Disclaimer here.
NOTE: Join us in combating medical misinformation. If you encounter a questionable health, medical, or medical education claim, email us at factcheck@medicaldialogues.in for evaluation.