New Delhi, July 23 -- India's pharmaceutical companies are expected to deliver steady earnings growth in the June quarter, buoyed by robust domestic demand despite pricing pressure in the US on key products like Revlimid, said analysts.

Aggregate revenue for the sector is forecast to rise about 9% year-on-year in Q1FY26, with Ebitda and net profit expanding about 8% and 2-6%, respectively, according to estimates from brokerages Nuvama and BNP Paribas. However, Ebitda margins may contract by 30-50 basis points due to erosion in US pricing.

"We expect US sales to decline 1% q-q (quarter-on-quarter) and remain volatile as the gRevlimid LoE (loss of exclusivity) is expected in the next few quarters and companies may race to gain volume shar...