Lupin Ltd, a Rs 2000-crore plus pharma giant, has achieved consolidated net profit of Rs 180.86 crore during the third quarter ended December 2007 as against Rs 62.02 crore in the corresponding period of last year. The other income touched to of Rs 138.94 crore during the quarter under review as compared to Rs 13.92 crore in the last period as it received Rs 112.72 crore on account of sales of rights in patent applications for 'Perindopril' during the December quarter. The company's net sales increased by 43.8 per cent to Rs 738.11 crore from Rs 515.58 crore. With sharp rise in profitability, its earning per share jumped to Rs 22.04 from Rs 7.72.
Commenting on the business results, Dr Kamal Sharma, managing director, said, "Our performance in the third quarter is the result of overall good performance led by advanced markets and domestic formulations business along with successful monetization of our investments into R&D through sale of IPs. We hope to maintain this momentum which will be strengthened further with our entry into Japan through acquisition of Kyowa."
Lupin has acquired Kyowa Pharmaceutical Industry Co Ltd, Japan during the quarter ended December 2007. Kyowa, with sales of Yen 7.4 billion for the year ended March 2007, develops manufacturers and markets a range of generics in Japan. Dr Desh Bandhu Gupta, chairman, said, "This is a major step forward in the world's second largest pharma market and will propel Lupin's overall growth. Kyowa ranks amongst the top eight generic companies in Japan with a prominent presences in CNS and CVS therapy segments. Our investment in the Japanese market is a reflection of our long term commitment to this most stringent and at the same time promising healthcare market."
Lupin's formulations business in advance markets clocked income of Rs 229.6 crore, a growth of 114 per cent mainly due to strong support from brand extensions strategy. Its Suprax continues to record promising growth of 79 per cent. Its generic business grew by 165 per cent with Lisionopril maintaining its market leadership.
The domestic formulation business reflected a healthy growth of 26 per cent with sales of Rs 238.1 crore for the quarter ended December 2007. It retained its leadership position in the anti-TB segment and strengthened its domestic business profile further. The life style disease management segments like cardio-vasculars, anti-asthma, anti-diabetes, etc., reflected a growth of over 35 per cent.
For the nine months period ended December 2007, Lupin's net profit increased by 86.6 per cent to Rs 312.38 crore from Rs 167.42 crore in the corresponding period of last year. The net sales moved up by 32 per cent to Rs 1956 crore from Rs 1482 crore.