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earnings | IST

Lupin Q2FY22: MD Nilesh Gupta expects around 13% YoY growth in Q3 and Q4

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Lupin said the company expects around 13 percent year-on-year growth in the third and fourth quarters after it reported a consolidated net loss of Rs 2,098 crore for Q2FY22.

Drug-maker Lupin on Thursday said the company expects around 13 percent year-on-year growth in the third and fourth quarters after it reported a consolidated net loss of Rs 2,098 crore for Q2FY22.
In an interview with CNBC-TV18's Ekta Batra, Nilesh Gupta, managing director, said the India business continues to be strong driven by COVID-19 in the first quarter.
Ramesh Swaminathan, global chief financial officer and head of corporate affairs at Lupin said the margin is in-line with the company's expectations and come on the back of lower R&D expenditure and lower employee benefits. He expects margins to improve in the next two quarters.
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Vinita Gupta, chief executive officer of Lupin said the company is confident of growing the US business on the back of respiratory products such as Albuterol and Brovana. She said the company expects to get product approval for inhaler drug Spiriva by mid next year.
Total revenue from operations stood at Rs 4,091.3 crore in the second quarter as compared with Rs 3,835 crore in the year-ago period, Lupin said in a statement.
During the quarter, the company booked a provision of Rs 1,879.6 crore for Glumetza (diabetes drug) business compensation expense to settle the dispute with two plaintiff groups as well as an impairment expense of Rs 707.7 crore for Solosec, a drug indicated for the treatment of bacterial vaginosis (BV), it added.
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