Drug major Lupin today reported 26.32 percent increase in its consolidated net profit at Rs 601.45 crore for the quarter ended December 2014 on account of robust sales and improved operational efficiencies.
The company had posted a net profit of Rs 476.13 crore in the same period of previous fiscal. Net sales of the company rose to Rs 3,144.91 crore for quarter under review as compared to Rs 2,982.97 crore in the same period of previous fiscal.
"The company's continued focus on improving operational efficiencies has led to sustained margins and profit growth notwithstanding regulatory delays that have resulted in pressures on the topline," Lupin Ltd Managing Director Nilesh Gupta said in a statement.
The performance for the three quarters taken as a whole is more representative of the growth enjoyed by the company, he added.
The Mumbai-based company said its US and Europe formulation sales grew by four per cent to Rs 1,484.8 crore during the third quarter as against Rs 1,422.8 crore in the same period of previous fiscal, contributing 47 percent to overall sales.
The company's India formulations business grew by 14 percent during the quarter, posting net sales of Rs 743.8 crore as compared to Rs 650.4 crore in the same period of previous financial year.
Lupin's Japan sales declined by eight per cent, clocking net sales of Rs 342.2 crore during the third quarter as against Rs 372 crore in the same period of previous fiscal.
The company said its active pharmaceutical ingredients (API) business posted sales of Rs 275.8 crore during the quarter as compared to Rs 297.3 crore in October-December period of 2013-14.Lupin's shares were trading 0.81 per cent down at Rs 1,543 apiece during afternoon session on the BSE.
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