One of the leading Indian drug maker company Lupin’s net profit-profit post tax- grew 18.2 percent year-on-year (YoY) to Rs 460.4 crore in the quarter ended March 31 as a result of cost optimization and growth in India and other emerging markets.
The company reported a net profit of Rs 390 crore during the corresponding period of the previous year.
Revenues of Lupin dropped by 1.6 percent YoY to Rs 3,783 crore, compared to the previous year’s Rs 3845.7 crore. On a QoQ basis, the revenue dropped by 5.8 percent.
The EBITDA grew 4.3 percent YoY to Rs 765.7 crore in Q4FY21. The EBITDA margin stood at 18.8 percent.
Investment in R&D was at Rs 343 crore or 9.1 percent of sales for Q4FY21.
Lupin’s India formulation sales that contribute 35 percent of revenues, grew 7.9 percent YoY basis to Rs 12,866 crore. The growth displays 8.3 percent YoY to Rs 303 crore.
According to the Company’s Managing Director Nilesh Gupta, their journey to sustain margin improvement continues, despite a challenging environment. On the back of a strong ramp-up of inline products and meaningful new product launches, the company is confident of a solid growth trajectory and continued margin expansion.
At the same time ensuring the safety of their employees while maintaining business continuity is also a key priority currently for the company, he added.
North America which constitutes 40 percent of sales or Rs 1,495.2 crore saw decline of 5.3 percent on YoY basis. The growth was at 3.7 percent on a QoQ basis.
The company launched 3 products during the quarter in the US market and now has 168 products in the US generics market. Lupin has filed 9 ANDAs (abbreviated new drug applications) during the quarter and received 6 ANDA approval from the USFDA.
Company received approval from USFDA for Sulfamethoxazole and Trimethoprim Oral Suspension, which is used to treat bacterial infections.
Smrutirekha Bhoi