Lupin Ltd shares touched a day high of Rs 2,062.10 on 4 November, up 2%, after Q2 results showed sales up 11% but profit down 22.19%.

Lupin Limited told exchanges that consolidated net profit dropped 22.19% to Rs 1,155.30 crore for the July to September quarter.

In the same period last year, it had earned Rs 1,484.83 crore. An exceptional item weighed on profit.

In the filing, the company said its US arm settled one of its ongoing antitrust cases for Rs 316.28 crore ($35.8 million) in the six months to 30 September, without admitting any wrongdoing.

Lupin still holds a provision for similar cases. Sales told a better story.

The company reported an 11% year-on-year increase in revenue from operations, which reached ₹7,827.26 crore compared to ₹7,047.51 crore in the corresponding period last year.

Total expenses also climbed, to Rs 6,374.46 crore from Rs 5,130.54 crore.

The US, Lupin’s biggest market, brought in Rs 3,020.2 crore, up 9.3% from Rs 2,762.4 crore a year earlier.

India added Rs 2,383.6 crore, up 14.7%, which is 31% of global sales.

Lupin also said it ranks third in the US generics market by prescriptions, based on IQVIA data for September 2026.

Managing Director Nilesh Gupta said the company is aware of near-term challenges. ‘We are confident in our long-term growth prospects,’ he added.

Looking at the first half, net profit slipped 4.95% to Rs 2,572.28 crore from Rs 2,706.29 crore.

The stock also went ex-dividend on 17 July for a payout of Rs 18 per share, against Rs 12 in 2025.

At 10:06 am, it was trading at Rs 2,013.90 on NSE, down by 0.10% from the previous close of Rs 2,015.90.

That’s still about 20% below the 52-week high of Rs 2,529.50, hit on 16 July, and the stock is down 4.23% in 2026.

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