Earnings Review
Lupin's Q3 PAT up 37% on rise in sales; misses mkt estimate
This story was originally published at 22:59 IST on 12 February 2026
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--Lupin Oct-Dec consol net profit INR 11.76 bln
--Analysts saw Lupin Oct-Dec consol net profit at INR 12.34 bln
--Lupin Oct-Dec consol revenue INR 71.68 bln
--Analysts saw Lupin Oct-Dec consol revenue at INR 67.57 bln
--Lupin Oct-Dec consol net profit INR 11.76 bln vs INR 8.55 bln year ago
--Lupin Oct-Dec consol revenue INR 71.68 bln vs INR 57.68 bln year ago
--Lupin Oct-Dec net profit includes one-time cost of INR 4.27 bln
--Lupin Oct-Dec profit excluding one-time cost is INR 16.02 bln
--Lupin Apr-Dec consol net profit INR 38.73 bln vs INR 25.09 bln year ago
--Lupin Apr-Dec consol revenue INR 204.83 bln vs INR 170.41 bln year ago
By Shruti Nair
MUMBAI – Lupin Ltd. reported a sharp double-digit growth in its consolidated net profit for the December quarter, yet marginally missed the Street's estimate. The pharmaceutical company's bottom line was capped by a one-time expense. The company's consolidated revenue also saw a double-digit growth from a year ago and surpassed analysts' estimate.
The company reported a consolidated revenue of INR 71.68 billion for the December quarter, up over 24% on year. Analysts saw the company's consolidated top line around INR 67.57 billion.
Lupin reported a consolidated bottom line of INR 11.76 billion for the December quarter, up over 37% on year. Analysts had pegged the net profit at INR 12.34 billion. The net profit includes a consolidated one-time cost of INR 4.27 billion.
The one-time expense includes a cumulative expense of INR 5.84 billion related to provisions made for antitrust litigations against the company and its US subsidiary as well as a settlement agreement with Japan's Astellas Pharma Inc. The one-time cost also includes an incremental expense of INR 512.2 million due to the implementation of the new labour codes. Excluding the consolidated one-time cost, the company's net profit for the December quarter would have been INR 16.02 billion.
Lupin's bottom line was also limited due to an over 12% on-year increase in total expenses. The company's total expenses for the December quarter were INR 53.37 billion. Of which, other expenses were INR 19.37 billion, up over 14% on year and employee expenses were INR 11.43 billion, up over 16% on year.
However, the company's growth in total income outpaced the growth in total expenses and boosted its bottom line. The drug maker's total income grew over 25% on year to INR 72.82 billion. Of which, other income grew nearly 114% on year to INR 1.15 billion.
For the nine months ended Dec. 31, Lupin's consolidated net profit grew over 54% on year to INR 38.73 billion. The consolidated revenue for Apr-Dec was INR 204.83 billion, up over 20% from the year-ago period.
Thursday, shares of Lupin closed at INR 2,211.10 on the National Stock Exchange, marginally up from the previous close. The company declared its December quarter results after market hours. End
Edited by Ashish Shirke
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