Lupin’s second-quarter profit beat analyst estimates, However, sales fell a bit short of Street expectations. The company attributed the muted sales growth to antibiotics being a significant proportion of its product mix — which witnesses a pickup during the flu season in the US from October to March.
It reported a profit of R630 crore on sales of R3,116.8 crore for the quarter ended September 30 against the analysts’ expectation of a profit of R580 crore on sales of R3,330 crore, according to a Bloomberg poll.
Sales grew 18.4% y-o-y while profit registered an increase of 55.1%.
Manufacturing and other expenses reduced 3.7% y-o-y to 296.7% of net sales and stood at R832.2 crore for the quarter.
Canada removes requirement for language testing in non-express entry applications
