Domestic pharmaceutical companies have struggled with weak sales in the United States on account of regulatory bans and warnings over quality control violations at production plants.
Sales have also been hit by pricing pressures on account of rising competition in the generics market in the US.
Lupin said its sales in North America, which accounts for more than a third of its total sales, fell 34 per cent to Rs 1,432 crore ($223.29 million). Net sales slipped 11.5 per cent to Rs 3,900 crore.
"The quarterly performance was muted on the back of business mix as well as forex losses," said Nilesh Gupta, managing director.
Lupin said its profit was hit by a foreign exchange loss of Rs 82.1 crore compared to a gain of Rs 27 crore a year earlier.
The company also incurred a charge of Rs 36.1 crore as a result of recalculating deferred tax assets related to its United States operations due to the introduction of a new tax regime.
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