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Lupin has reported a fall of 65% YoY in its consolidated profit to Rs.221.7 crore, mainly due to continued pricing pressure in the US and weak operational performance.
Last year, in the corresponding quarter it had reported a profit of Rs.633.11 crore. Revenue from operations, went down by 11.3% to Rs.3,976.6 crore, as against Rs.4,482.9 crore in the year ago quarter.
Nilesh Gupta, Lupin’s Managing Director stated, “The quarterly performance was muted on the back of business mix as well as forex losses. We continue to grow strong in all markets while the US business is now starting to stabilize at the current level.”
