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ICICI Direct Report
Lupin Ltd.’s revenues from U.S. remained subdued while profitability was hampered due to high other expenses and impairment charges (Rs 127 crore).
Lupin's sales were up 2.6% YoY to Rs 3883 crore. Ebitda was at Rs 226.5 crore, down 68% YoY with margins at 5.8% mainly due to multiple factors namely-
higher input cost,
double digit price erosion in U.S.,
losartan recalls,
Solosec litigation payment,
lower operating leverage and
higher freight cost.
Adjusted loss of Rs 525 crore versus profit of Rs 460 crore in Q4 FY21.
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