Lupin Q2 cons net profit up 46% at Rs 75.6 cr

Lupin has declared its second quarter numbers. Its consolidated net profit has jumped by 46% to Rs 75.6 crore for the quarter ended September 2007 as against Rs 51.8 crore. Net sales increased by 39.6% to Rs 675.6 crore from Rs 483.9 crore. 

Consolidated operating profit stood at Rs 131.4 crore versus Rs 71.5 crore. Operating profit margin improved to 19.4% from 14%.

Standalone net profit surged by 102% to Rs 118.08 crore from Rs 58.3 crore and net sales by 45% to Rs 714 crore from Rs 491.07 crore.

Standalone operating profit rose to Rs 141.2 crore from Rs 78.7 crore and operating profit margin improved to 19.7% from 16%.

Highlights

• Lupin standalone numbers are bigger than consolidated number, because of inventory buildup for preparation of new launches to US in the winter season.
• Driven by US market sales, finished dosage export revenue up 99%
• API revenues up 20%
• Domestic finished dosage revenues up 22% - EBITDA up 41% at Rs 1,314 million
• Cefdinir market share at 14%, Price erosion not seen at the moment

Result (Rs cr)	Sep-07	Jun-07	Mar-06	Dec-06	Sep-06
Net Sales / Interest Earned / Operating Income	714.32	601.75	518.06	492.94	491.07
Other Income	17.61	15.14	128.34	18.26	21.02
Total Income	731.93	616.89	646.40	511.20	512.09
Expenditure	-559.13	-497.67	-443.10	-417.41	-412.30
Operating Profit	172.80	119.22	203.30	93.79	99.79
Interest	-8.00	-8.90	-9.81	-8.87	-9.31
Profit Before Depreciation and Tax	164.80	110.32	193.49	84.92	90.48
Depreciation	-13.89	-12.69	-12.52	-12.07	-11.23
Profit before Tax	150.91	97.63	180.97	72.85	79.25
Tax	-32.83	-19.25	-43.89	-16.82	-20.95
Net Profit	118.08	78.38	137.08	56.03	58.30
Equity Capital	82	82	80	80	80