<p>Lupin Ltd, one of India's top five drugmakers by sales, reported second-quarter net profit much below market estimates, due to lower revenue from its largest market, the United States.<br><br>Net profit for the July-September quarter slumped 35 per cent to Rs 4.09 billion ($62.97 million). That was much below the Rs 5.68 billion analysts on average estimated, according to Thomson Reuters data.<br><br>US sales fell about 9 per cent to Rs 11.55 billion.<br><br>Lupin's performance has been hurt in recent quarters by lower number of generic drug approvals by the US Food and Drug Administration.<br><br>"A lack of material (drug) launches continued to dampen growth" in the second quarter, Lupin's Managing Director Nilesh Gupta said in a statement on Tuesday (27 October).<br><br>($1 = 64.9550 rupees)<br><br>(Reuters)</p>
