Lupin Q3 Results: Profit Rises 40%, Beats Estimates

Lupin Ltd.'s consolidated net profit rose in the third quarter of the financial year, beating analysts' estimates.

Net profit rose 39.5% year-on-year to Rs 855 crore in the quarter ended Dec. 31, 2024, in comparison to Rs 613 crore in the year-ago period, according to an exchange filing on Wednesday. Analysts tracked by Bloomberg had estimated a profit of Rs 792.6 crore.

• Revenue up 11% to Rs 5,768 crore versus Rs 5,197 crore (Bloomberg estimate: Rs 5,686 crore).

• Ebitda up 33.6% to Rs 1,366 crore versus Rs 1,022 crore (Bloomberg estimates: Rs 1,282.8 crore).

• Margin expands to 23.7% versus 19.7% (Estimate: 22.6%).

• Net profit up 39.5% to Rs 855 crore, against Rs 613 crore. (Estimate: Rs 792.6 crore).

The rise in revenue was led by building scale in new products and were aided by higher PLI and export benefits.

North America sales grew 12.3% year-on-year, accounting for 38% of global sales. The sequential growth in US sales was led by higher market share in Albuterol, as well as, sales ramp-up of both 25 mg and 50 mg versions of generic Myrbetriq.

India sales grew 11.9% year-on-year, led by strong growth in diabetes portfolio and accounted for 34% of global sales. Lupin launched 11 brands across diabetes, neuro/CNS in India.

Shares of Lupin closed 4.69% lower at Rs 2,067.6 apiece on the NSE, compared to a 1.32% decline in the benchmark Nifty 50.