Revenue rose 11% in the September quarter, but higher expenses and a Rs 316.28 crore US antitrust settlement weighed on profit.
Lupin reported a sharp drop in quarterly profit for the three months to 30 September 2026, even as revenue increased and sales in key markets continued to expand. According to the company’s regulatory filing, consolidated net profit fell 22.19% year on year to Rs 1,155.3 crore from Rs 1,484.83 crore a year earlier, weighed down by an exceptional item linked to a legal settlement in the United States.
Revenue from operations rose to Rs 7,827.26 crore from Rs 7,047.51 crore in the same quarter last year. Total expenses also climbed, reaching Rs 6,374.46 crore versus Rs 5,130.54 crore a year earlier, highlighting the pressure from higher costs despite stronger top-line growth.
For the half year ended 30 September 2026, profit slipped 4.95% to Rs 2,572.28 crore from Rs 2,706.29 crore a year earlier. The company said its wholly owned US subsidiary, Lupin Pharmaceuticals Inc, settled one ongoing antitrust matter for Rs 316.28 crore, or $35.8 million, without admitting liability or wrongdoing. Lupin said it continues to hold provisions for other similar cases.
Sales in the United States, Lupin’s largest market, rose 9.3% to Rs 3,020.2 crore in the quarter from Rs 2,762.4 crore a year earlier. India sales increased 14.7% to Rs 2,383.6 crore from Rs 2,077.7 crore, accounting for 31% of global sales, according to the company. Lupin also said it remained the third-largest pharmaceutical player in both the US generic market and the overall US market by prescriptions, based on IQVIA data for the September 2026 quarter.
Managing director Nilesh Gupta said the company delivered a strong first half, supported by growth across major markets and steady profitability. He said Lupin remained mindful of near-term challenges, but retained confidence in its longer-term prospects, citing its product portfolio, spending on research and development, commercial capabilities and disciplined execution.
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