Lupin, the fifth largest pharmaceutical company from Mumbai with net sales of Rs 3,775 crore, has continued its modest growth during the third quarter ended December 2009 and its consolidated net profit increased by 37.9 per cent to Rs160.60 crore from Rs116.50 crore in the corresponding period of last year. The company achieved net sales growth of 30.5 per cent to Rs 1,255 crore from Rs 962 crore. With satisfactory growth in profits, its earnings per share moved up to Rs 18.59 as compared to Rs 14.08 in the last period.
The earnings before interest, depreciation and taxation increased by 48.7 per cent to Rs 261.93 crore from Rs 176.13 crore. The employees cost increased by 26.7 per cent to Rs 152.75 crore and its depreciation provision went up by 63.4 per cent to Rs 35.84 crore from Rs 21.94 crore. The company has successfully reduced its interest burden to Rs 10.86 crore from Rs 14.56 crore. Its revenues in domestic market reached at Rs 406.89 crore from Rs 314.29 crore, a growth of 29.5 per cent. Its international revenues surged by 29.1 per cent to Rs 863.89 crore from Rs 669.39 crore. Lupin's revenue R&D expenditure has gone up sharply by 56.8 per cent to Rs 93.86 crore from Rs 59.86 crore in the corresponding quarter of last year.
For the nine months ended December 2009, Lupin's net sales increased by 26.5 per cent to Rs 3,456 crore from Rs 2733 crore in the similar period of last year and it's net profit moved up by 34 per cent to Rs 461.01 crore from Rs 344.16 crore. Similarly, its EBDITA worked out to Rs 695.18 crore as compared to Rs 529.11 crore, a growth of 31.4 per cent. Its revenues from international market touched to Rs 2,308 crore from Rs 1,770 crore, a growth of 30.4 per cent and its domestic sales increased by 19.6 per cent to Rs 1,229 crore. Its R&D expenditure went up to Rs 244.50 crore from Rs 167.40 crore. The company incurred R&D expenditure of Rs 231.81 crore during the year ended March 2009.