Lupin, for Q2FY21, announced a net profit of Rs.213 crore, up 97% QoQ and YoY, back in the black from a loss previously of Rs.183 crore.

Total revenue from operations fell 1% (YoY) to Rs.3835 crore. EBITDA came in at Rs.606 crore, down 21%.

Its interest outgo for the quarter was significantly down to Rs.34 crore, down 59%. But this was more than offset by a 111% surge in tax outgo at Rs.147 crore.

In terms of Geography, all regions except North America showed a de-growth. America grew 5.6% and this is good as 37% of its revenue comes from this region. India contributes 35% and it showed a marginal de-growth of 0.7%.

Investment in R&D was Rs.384 crore (10% of sales) v/s Rs.357 crore (QoQ).

Lupin received approval for 4 ANDAs from the US FDA during the quarter. Cumulative ANDA filings with US FDA stood at 436 as of September 30, 2020, with the company having received 280 approvals.

The market has  clearly given the numbers a big thumbs down. It is currently the top loser on the BSE. It fell almost 2.5% to Rs.922. Its 10% LC for the day is at Rs.849.85.