Lupin Q2FY19 profit falls 41 per cent

Lupin reported its results for the quarter ended September 30, 2018 during market hours.

The company's consolidated revenue for the quarter remains muted at Rs. 3951.06 crore as against Rs. 3951.96 crore in Q2FY18.
  
The EBITDA for the quarter fell by 35.6 per cent YoY to Rs 549.64 crore as against Rs 853.05 crore in the corresponding quarter last year, with a corresponding margin contraction of 767 bps. Its EBITDA margin for the quarter stood at 13.9 per cent. This contraction was due to jump in cost of materials as percentage of sales to 22 per cent in Q2FY19 from 16 per cent in Q2FY18.

The PAT for the quarter came in at Rs. 268.45 crore as against Rs. 456.87 crore in the corresponding quarter last year, a decline of 41 per cent YoY. This was mainly due to the deterioration in operational performance. Also, the jump in effective tax rate to 22 per cent in this quarter from 16 per cent in Q2FY18 dragged down the bottomline.
  
The sales mix for Q2FY19 comprises of North America (32 per cent), India (31 per cent), APAC (16 per cent), EMEA (7 per cent), LATAM (4 per cent) and ROW (1 per cent) and API (9 per cent).
  
Today, the stock opened at Rs. 880 and made an intra-day high and low of Rs. 914 and Rs. 866.25, respectively, on the BSE.