Lupin posted results lower than expected. Sales came in at Rs4,212cr vs. Rs4,300cr expected, registering a yoy growth of 31.9%, mainly aided by exports. The sales growth was driven by Formulations sales (Rs3,919.3cr), posting a yoy growth of 37.1%; while API sales (Rs291.9cr) posted a yoy de-growth of 12.3%. On the operating front, the EB..