Lupin, the third largest pharma giant with net sales of Rs.13,650 crore plus, has posted impressive financial performance during the first quarter ended June 2016. Its consolidated net profit went up by 55 per cent to Rs.882 crore from Rs.569 crore in the corresponding period of last year. EBDITA improved by 55 per cent to Rs.1,391 crore from Rs.900 crore. EPS has taken jump to Rs.19.57 from Rs.12.65 in the last period.
Despite strong growth in bottom line, Lupin scrip declined by 4.8 per cent or by Rs.81.75 to Rs.1,611 on BSE.
Its consolidated net sales also moved up strongly by 40 per cent to Rs.4,314 crore from Rs.3,081 crore. The company's US sales increased by 82.3 per cent to Rs.2,189 crore from Rs.1,200 crore in the same period of last year and contributed to 51 per cent of its global sales. Lupin launched 3 products n the US market during the quarter. It now has 123 products in the US generics market and it is now the market leader in 46 products marketed in the US generics market.
Commenting on the results, Nilesh Gupta, managing director, said βIn keeping with the growth momentum, we continue to execute flawlessly and have delivered our best results to date. This was a record quarter, driven by robust growth across all our key markets β the United States, India and Japan. We remain committed to maintaining our growth trajectory given new product launches and approvals driven by strategic investments in technology and research.β
Lupin's sales in Europe, Middle-East and Africa (EMEA) increased by 20.6 per cent to Rs.219 crore from Rs.182 crore and these sales contributed 5 per cent of its global sales. Its South Africa sales grew by 31.9 per cent to ZAR 205 million from ZAR 155 million. Lupin remains the 4th largest generic player in the South African market. Its German sale moved up 88.2 per cent to Euro 6.4 million from Euro 3.4 million.
The company's sales of formulation in India increased by 5.2 per cent to Rs.931 crore from Rs.885 crore and contributed 22 per cent to its global sales. Its Asia-Pacific (APAC) sales increased by 11.1 per cent to JPY 6,868 million from JPY 6,183 million. Its Philippines sales increased by 65.5 per cent to PHP 487 million from PHP 295 million. Its sales in Latin America went up by 76.8 per cent to Rs.109 crore from Rs.62 crore.
Its API sales, however, declined by 12.4 per cent to Rs.287 crore from RS 328 crore and contributed 7 per cent to its net sales.
Investment in research and development went up by 59.4 per cent to Rs.499 crore from Rs.313 core and worked out to 11.6 per cent of net sales. It filed 2 ANDAs and received 7 approvals from the US FDA during the June 2016 quarter. Cumulative ANDA filings stood at 336 and it received 187 approvals. The company now has 45 First-to-Files filings including 25 exclusive FTF opportunities. Cumulative DMF filings stands at 172 as at the end of June 2016. It also received 4 MAAs approval from European authority during the quarter. Cumulative filings with European authorities now stands at 67 with company having received 54 approvals to date.