Pharma major Lupin Ltd. on February 7 reported a 300 percent year-on-year rise in consolidated net profit at Rs 613 crore for the October-December quarter of the current financial year.
The company had reported a profit of Rs 157.6 crore in the same period last year.
Revenue came in at Rs 5,197.4 crore, up percent from the year-ago quarter numbers of Rs 4,322.2 crore.
The company delivered its highest quarterly sales to date and crossed the 5,000 crore mark for the first time, driven by strong growth across
geographies, according to a statement.
The company's earnings before interest, taxes, depreciation and amortization (EBITDA) came in at Rs 1,037.9 crore, up 95 percent from Rs 532.7 crore in the year-ago period. The EBITDA margin came in at 20 percent, as against 12.3 percent in the year-ago period.
Commenting on the results, Nilesh Gupta, Managing Director, Lupin Limited said, "The U.S. continues to do well driven by demand for both in inline products and new launches, and the India business continues to grow ahead of market with strong growth across our key therapies. This positive growth momentum coupled with cost optimization measures and operating leverage has helped us deliver solid performance”.
North America sales for Q3 FY2024 were Rs 1888.5 crore, up 1.2 percent compared to Rs 1866.6 crore in Q2 FY2024; up 23.7 percent as compared to Rs 1527.1 crore in Q3 FY2023; and accounted for 37 percent of Lupin’s global sales.
India sales for Q3 FY2024 were Rs 1725.1 crore, up 2 percent as compared to Rs 1691.5 crore in Q2 FY2024; up 13.4 percent as compared to Rs 1521.3 crore in Q3 FY2023; and accounted for 34 percent of Lupin’s global sales.
Lupin's investment in R&D was Rs 356.7 crore (7 percent of sales) for Q3 FY2024 as compared to Rs 289.6 crore (6.8 percetn of sales) for Q3 FY2023.
Lupin received approval for 14 ANDAs from the U.S. FDA in the quarter.
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