Lupin has reported its financial performance for the first quarter ending June 30, 2017. The net sales for the quarter were Rs 38,068 million compared to Rs 41,169 million in Q4 FY 2017 and Rs 43,418 million in Q1 FY 2017

The Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) for the quarter was Rs 8,003 million compared to Rs 8,267 million in Q4 FY 2017 and Rs 13,934 million in Q1 FY 2017. Net profits for the quarter were Rs 3,581 million compared to Rs 3,802 million in Q4 FY 2017 and Rs 8,820 million in Q1 FY 2017. Investment in research for the quarter was Rs 4,999 million, 13.1 per cent of sales

Commenting on the results, Nilesh Gupta, Managing Director, Lupin, said "Our Q1, FY 2018 results have been below our own expectations on count of higher than anticipated price erosion in select products like Glumetza, disruption on count of GST implementation in India and appreciation in the rupee. Our focus remains on building our complex generic pipeline, operational excellence, regulatory compliance and building a differentiated specialty business."