Today, Lupin Ltd reported a consolidated loss of Rs 89.08 crore for the first quarter from a profit of Rs 542.46 crore last year. In other countries’ stock markets, North American businesses contributed 28 per cent of revenue compared with India’s 41 per cent. For the first quarter of consolidated revenue from operations, it fell 12.3 per cent to Rs 3,743.84 crore, with North American business falling 24.2 per cent to Rs 1,010.4 crore. Also, in India, the company fell 8.8 per cent to Rs 1,492 crore.

“Our numbers are muted in the quarter, but we expect a strong bounceback from September,” Nilesh Gupta, managing director, said.

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Growth Markets registered sales of Rs 423.7 crore while Europe, Middle-East and Africa (EMEA) sales were Rs 333.5 crore in the first quarter of FY2023. Global API Sales rose by 3.7% to Rs 255.1 crore in the June quarter of FY23 over Q1 FY22.

EBITDA declined by 76 per cent to Rs 237.9 crore in the first quarter from Rs237.9 crore from Rs 992.6 crore recorded in the same period last year. EBITDA margin in Q1 FY23 was 6.6 per cent against 23.4 per cent in Q1 FY22.

In the Apr-Jun, the PBT stood at Rs 2.3 crore, down by 99.7 per cent from Rs 750.3 crore in Q1 FY22. Investment in R&D was Rs 347.78 crore (9.6 per cent of sales) for Q1 FY2023 as compared to Rs 344.2 crore (8.9 per cent of sales) for Q4 FY2022.