After strong Q1, drug firms' revenue growth to dip to 7%, say analysts

The first quarter (Q1) of this financial year was a strong one for pharmaceutical players, driven by 28 per cent domestic growth on a GST-disrupted base. Analysts, however, expect the Q2 FY19 domestic revenue growth to fall to 7 per cent due to GST restocking in the base quarter (Q2 FY18). GST de-stocking began a quarter before the implementation.
 
Currency played an important role in Q2, with US dollar, Japanese yen and euro appreciating vis-a-vis the Indian rupee, while the Brazilian real, South African rand and Russian ruble depreciating against rupee. On a sequential basis, export-driven firms are expected