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

22 May 2022 , 06:42 AM

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%