Drugmaker Lupin Ltd posted a profit after tax of ₹134 crore for Q2 FY23 compared with a loss of ₹2,094 crore in the year-ago period. Total revenue from operations stood at ₹4,145 crore (₹4,091 crore).
Nilesh Gupta, MD of the company, said, “Our sales growth sequentially was robust as our US business bounced back. Our India business delivered continued growth in line with the market, excluding the impact of loss of exclusivity and certain sales in the diabetes and cardiovascular therapy area. All other geographies performed well, and we continue to see the benefit of our optimisation measures implemented. We are focused on sustaining this positive momentum, driving improvement in sales and margins.”
Lupin’s North America sales for Q2 were ₹1,329 crore, up 31.6 per cent compared with ₹1,010 crore in Q1; but down 7 per cent compared with ₹1,429 crore in Q2 FY22. The region accounts for 33 per cent of Lupin’s global sales.
The company’s India formulation (or finished drugs) sales were at ₹1,584 crore, up 6.2 per cent q-o-q and 2.6 per cent y-o-y. The segment accounts for 39 per cent of Lupin’s global sales.