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Lupin Q3 Results Review — Margins Outperform Expectations; Systematix Recommends 'Hold' On The Stock

Lupin's margin beat came primarily on the back of ramp up in high value products like Mirabegron in the US, and Luforbec and Namuscla in Europe, adds the brokerage.

<div class="paragraphs"><p>Lupin Ltd.'s revenue (Rs 57,677 million) was in-line with the brokerage and consensus estimates but Ebitda (Rs 13,659 million) and net earnings (Rs 8,552 million) were significantly higher (14.7% and 16.6% respectively)</p><p>(Photo Source: Company website)</p></div>
Lupin Ltd.'s revenue (Rs 57,677 million) was in-line with the brokerage and consensus estimates but Ebitda (Rs 13,659 million) and net earnings (Rs 8,552 million) were significantly higher (14.7% and 16.6% respectively)

(Photo Source: Company website)

Lupin reported Q3 FY25 revenue of Rs 56,186 million, up 10.6% YoY and 2.2% QoQ. Ebitda at Rs 13,659 million, surged by 33.7% YoY and 4.4% QoQ.
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