Lupin Q1 Net Profit Jumps 77%, Shares Rise 5%

7 Aug 2024 , 10:44 AM

Drugmaker Lupin Limited on Tuesday reported a net profit of ₹801.3 crore, up 77.2% from ₹452.3 crores in the same period last year. Total revenue grew 16.3% year-on-year to ₹5,600.3 crore from ₹4,814.1 crore a year ago, according to a press release by the company.

In the March quarter, the net profit and revenues were ₹359.4 crore and ₹4,960.8 crore, respectively. The EBITDA or operating profit increased by 48.9% on year to ₹1,308.8 crore, with EBITDA margin improving by 520 basis points on year to 23.7%.

The company invested ₹350 crore, or 6.3% of its sales, in research and development during the quarter. Formulation sales in North America grew 28.3% year-on-year to ₹2,040.8 crore, while domestic sales rose 17.5% to ₹1,925.9 crore. Total US sales rose to $227 million from $181 million a year ago and $209 million in the previous quarter, the company said.

Lupin received six ANDA approvals from the US FDA and launched three products in the quarter the US. The company now has 161 generic products in the US.

In morning trade, shares of Lupin rose over 5% to ₹2007.30 on the National Stock Exchange.