Lupin, the fourth largest Indian pharma company, has posted strong growth in bottom line during the second quarter ended September 2014 with higher sales and lower taxation. Its consolidated net profit went up by 55.1 per cent to Rs. 630 crore from Rs. 406 crore in the similar quarter of last year. EBDITA increased by 27.2 per cent to Rs. 942.78 crore from Rs. 740.95 crore. Its EPS worked out to Rs. 14.05 as compared to Rs. 9.07 in the last period.
Its consolidated net sales improved by 18.4 per cent to Rs. 3,117 crore from Rs. 2,631 crore. Other operating income and other income moved up by 42 per cent to Rs. 166.83 crore from Rs. 117.77 crore. Lupin's formulation sales increased by 19 per cent to Rs. 2,799 crore from Rs. 2,345 crore.
Despite better financial performance, Lupin scrip declined sharply by 2.4 per cent or Rs. 34 to Rs. 1360.10 on the BSE.
Its sales in US increased by 23 per cent to Rs. 1,272 crore from Rs. 1,030 crore and that in Europe went up by 11 per cent to Rs 88 crore from Rs. 79 crore. US sales contributed 41 per cent to its total net sales and Lupin launched 3 new products taking it to a total 7 products during 2014-15. It now has 75 products in the market. It is now the market leader in 31 products marketed in the US generics market.
Its domestic sales increased by 20 per cent to Rs. 799 crore from Rs. 664 crore. The company is moving fast in Japan and its sales increased by 12 per cent to Rs 346 crore from Rs. 309 crore. APIs sales moved up 11 per cent to Rs. 318 crore from Rs. 286 crore.
Its revenue expenditure on R&D stood at 9.1 per cent of net sales at Rs. 284.80 crore as compared to Rs. 217.2 crore in the last period. Its capital expenditure stood at Rs. 211 crore.The company received two approvals from the US FDA and its cumulative ANDA filings stood at 200 and it received total 105 approvals. It filed 1 MAA and received 2 approvals during the quarter.
Nilesh Gupta, managing director, said, “We have had a great first half driven by strong growth in US, India, Japan and our API business. Our research pipeline is evolving well and we expect significant developments in the dermatology and inhalation space in the quarters to come.”
For the first half ended September 2014, Lupin's consolidated net sales increased by 26.7 per cent to Rs. 6,401 crore from Rs. 5,052 crore in the similar period of last year. Its net profit has taken a jump of 55.4 per cent and touched to Rs. 1,255 crore from Rs. 807 crore. EBDITA moved up by 45.8 per cent to Rs. 2,086 crore from Rs. 1,431 crore.