New Delhi, Oct. 21 -- Indian drugmakers are expected to post steady earnings growth for the quarter ended 30 September, gaining from continued traction across global markets, although domestic sales may have been hurt by the recent GST rate cuts.

Brokerages BNP Paribas, Kotak Securities, and HDFC Securities estimate the sector's second-quarter revenue to grow 9-11% from a year earlier, and ebitda to grow 8-12%. Ebitda, or earnings before interest, tax, depreciation, and amortisation, is a key measure of operational efficiency.

"For 2QFY26, we expect most of the US-focused companies to witness a margin profile reset to lower levels on exhausting most of their FY26 gRevlimid production quota," BNP Paribas research analyst Tausif Shaikh sa...