Lupin shares rise over 2% as Q2 profit advances 73% YoY to ₹1,478 crore, EBITDA margin expands

The stock was trading 1.51% higher at ₹1,985 per equity share as of 12:07 pm.

The scrip gained about 0.3% over the last five days and more than 3% over the month. It lost above 4% in the past six months. On a year-to-date basis, it has slipped a little over 16%.

Lupin Q2 results

The drug maker reported a 73.34% year-on-year (YoY) increase in its consolidated net profit to ₹1,477.92 crore in the September quarter of FY26, led by robust sales in the US and emerging markets.

During the corresponding period of the 2024-25 fiscal year (Q2FY25), its net profit stood at ₹852.63 crore.

The Mumbai-based drug manufacturer witnessed a 24.3% YoY surge in its sales, which stood at ₹6,831.43 crore during the quarter under review, compared to ₹5,497.01 crore in the second quarter of the previous fiscal year.

On a geographic scale, the United States contributed 40% to its sales, followed by India at 30%, other emerging markets (Latin America, South Africa, the Philippines, and the rest of the world) at 14%, other developed markets (Canada, Australia, Europe, and others) at 12%, and API at 4%.

At an operational level, its EBITDA (earnings before interest, tax, depreciation, and amortisation), also known as operating profit, was at ₹2,431.3 crore in Q2FY26, representing a 75.8% YoY jump from ₹1,382.7 crore in the year-ago period.

Its EBITDA margin expanded by 1,040 basis points (bps) annually to 35.6% during the quarter, as against 25.2% in Q2FY25.

Commenting on the earnings, Nilesh Gupta, Managing Director, Lupin Limited, said: “We are delighted to present one of our strongest performances ever in this second quarter of FY26. We continue to see robust growth in revenues and EBITDA led by strong performance across the board, in the U.S., emerging markets, other developed markets, and in India, supported by higher operational efficiencies and sustained investments. We intend to leverage the performance of H1 to deliver a strong FY26.”

Lupin has a total market capitalisation of ₹90,726.67 crore, as of November 7, 2025, according to data on the NSE.