Lupin Defies Tariff Headwinds — U.S. Market Drives Q2 Gains

Lupin reported a 24% year-on-year rise in Q2FY26 revenue to ₹6,831 crore, led by strong growth in the U.S. and emerging markets. EBITDA rose 76% to ₹2,431 crore with margins improving to 35.6%. Profit after tax stood at ₹1,485 crore, up 73% YoY. The company received six ANDA approvals and launched six new products in the U.S. Lupin remains the third-largest generic player in the U.S. and has turned net cash positive.