Lupin Q2 FY27 Results Reveal A Mixed Earnings Picture, Net Profit Declines 22% To ₹1,155 Crore Even As Sales Register A Healthy 14% Growth

Pharmaceutical company Lupin Limited disclosed a mixed earnings report for the second quarter of fiscal year 2027, revealing a 22.2% year-over-year drop in profit after tax (PAT) to ₹1,155.3 crore. Despite this decline, the company's product sales increased by 14% to ₹7,785.5 crore, with total revenue from operations growing 11.1% to ₹7,827.3 crore.

Lupin secured a tentative approval from the US FDA for its Apixaban oral suspension 1.25mg/mL. The EBITDA declined by 10.7% in Q2 FY27, reaching ₹2,171.2 crore, and the EBITDA margin contracted to 27.9% from 35.6%. Employee costs rose by 28.8% to ₹1,423.6 crore, while manufacturing and other expenses increased by 23.2% to ₹2,438.1 crore.

Sequentially, Lupin's profit after tax declined 18.5% from ₹1,417 crore in Q1 FY27, driven by a 5.3% decrease in product sales from ₹8,217.2 crore. EBITDA also fell by 15.8% from ₹2,579.9 crore. The company's US sales grew 9.3% year-on-year to ₹3,020.2 crore, accounting for 39% of global product sales, while India sales rose 14.7% to ₹2,383.6 crore, contributing 31% of total sales.

Other developed markets showed a 45.7% growth to ₹1,182.3 crore, while emerging markets sales declined by 3.5% to ₹890.8 crore. Global API sales rose 20.2% to ₹308.6 crore. Lupin invested ₹618.1 crore in research and development, representing 7.9% of sales, and received four ANDA approvals and one NDA 505(b)(2) approval from the US FDA.

Managing Director Nilesh Gupta emphasized the company's strong performance across key markets and continued investments in research and commercial capabilities.