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Lupin Ltd Q4FY22 dips into net loss of Rs-518 crore due to spike in deferred tax pay-out and input cost spike

Lupin Ltd reported 2.64% increase in revenues yoy for the Q4FY22 quarter on consolidated basis at Rs3,883 crore

May 22, 2022 6:42 IST | India Infoline News Service
Lupin
Lupin Ltd reported 2.64% increase in revenues yoy for the Q4FY22 quarter on consolidated basis at Rs3,883 crore. On a sequential basis, revenues were down for the quarter by -6.68%.

Full year FY22 revenues were up 8.5% at Rs16,193 crore. For Q4FY22, there was pressure on top line growth due to tough competition in the US markets.

Cash from operations fell almost 80% yoy for FY22 on account of a sharp increase in the current assets during the quarter and higher working capital costs. Dividend was Rs.4 per share for FY22.

The consolidated net profit for Q4FY22 dipped into a net loss of Rs518 crore from a net profit of Rs460 crore in the fourth quarter last year.

There were two key reasons for the loss in the quarter. Firstly, there was a spike in working capital and inventory costs in the quarter. Secondly, Lupin reported deferred tax pay-out of Rs341 crore, which deepened the loss in the quarter. 

Net margins were -13.34% in Q4FY22 quarter compared to 12.17% in Q4FY21. NPM was lower compared to 13.112% in Q3FY22. The company also took a Rs129 crore impairment charge in the quarter on account of acquired IP value depletion.


Financial highlights for Mar-22 compared yoy and sequentially


Lupin Ltd
Rs in Crore Mar-22 Mar-21 YOY Dec-21 QOQ
Total Income (Rs cr) ₹ 3,883.03 ₹ 3,783.10 2.64% ₹ 4,160.93 -6.68%
Net Profit (Rs cr) ₹ -517.98 ₹ 460.36 N.A. ₹ 545.52 N.A.
Diluted EPS (Rs) ₹ -11.40 ₹ 10.11 ₹ 11.98
Net Margins -13.34% 12.17% 13.11%

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