Lupin Ltd achieved satisfactory performance during the first quarter ended June 2006. Its standalone net profit moved up by 17.4 per cent to Rs 50.65 crore from Rs 43.15 crore in the corresponding period of last year. Its standalone net sales increased by 33.2 per cent to Rs 468.86 crore from Rs 352.11 crore. The earning per share improved to Rs 12.62 from Rs 10.75.
The company's exports sales increased by 25 per cent to Rs 198.20 crore, which includes sales made to advanced markets of Rs 52.70 crore as compared to Rs 28 crore in the last period. Sales from domestic markets improved by 39 per cent to Rs 286.90 crore as compared to Rs 206.9 crore. Ceftriaxone saw a steady market share of 25 per cent in the hospital market.
Its API sales from the developing market improved by 41 per cent to Rs 164.90 crore from Rs 116.60 crore. The company introduced Lupenox, first in-licensed product, in the domestic market. API sales in the domestic market moved up by 75 per cent to Rs 77.6 crore. Lupin filed four ANDAs, two DMFs, three EDMFs/COS, and one MAA (EU) during the quarter under review.
The company's operating profit before interest, depreciation and taxation went up by 11.5 per cent to Rs 83.33 crore from Rs 74.75 crore. The interest burden increased by 39.6 per cent to Rs 9.10 crore from Rs 6.52 crore. The company R&D expenditure during the quarter ended June 2006 increased significantly to Rs 31.98 crore from Rs 18.75 crore. It incurred Rs 8.20 crore for litigation pertaining to one particular patent challenge.
Lupin's consolidated net sales reached at Rs 496.31 crore and it earning a consolidated net profit of Rs 53.55 crore.