October 31, 2018 / 9:21 AM / in 18 days

India's Lupin Q2 profit falls, misses estimates

Oct 31 (Reuters) - Lupin Ltd, India’s second-largest drugmaker by revenue, posted a 41.5 percent fall in second-quarter profit on Wednesday, hurt by higher expenses.

Net profit was 2.66 billion rupees ($36.00 million) in the quarter ended Sept. 30, compared with a profit of 4.55 billion rupees a year earlier, Lupin said here

Analysts on average had expected a profit of 2.73 billion rupees, according to Refintiv data.

Income from operations rose marginally to 38.91 billion rupees. ($1 = 73.8850 Indian rupees) (Reporting by Tanvi Mehta in Bengaluru; Editing by Amrutha Gayathri)

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