Lupin, the third largest pharma company with net sales of Rs.13,700 crore plus, has posted strong growth in top line as well as bottom line during the second quarter ended September 2016. Its consolidated net profit increased by 57.8 per cent to Rs.662 crore from Rs.420 crore in the corresponding period of last year. EBIDTA moved up b y 46.5 per cent to Rs.1,055 crore from Rs.720 crore. Its net sales increased by 31.9 per cent to Rs.4,211 crore from Rs.3,193 crore. With impressive growth in profits, its EPS improved to Rs.14.69 from Rs.9.34 in the last period.

After announcement of strong growth in profits, Lupin scrip improved by Rs.23.20 to Rs.1,532.50 on BSE. The scrip touched to yearly high level at Rs.1,911.55 on February 9, 2016.  

Its formulations sales increased by 37.1 per cent to Rs.3,919 crore from Rs.2,860 crore in the similar quarter of last year. Its formulations sales in North America went up by 73.1 per cent to Rs.1,998 crore from Rs.1,154 crore and that in India increased by 12.1 per cent to Rs.996 crore from Rs.888 crore. US sales contributed 47 per cent of its global sales. The formulation sales in Asia-Pacific grew by 23.7 per cent to Rs.552 crore from Rs.446 crore. Its sales in Japan increased by 10.4 per cent to JPY 6700 million from JPY 6071 million. However, its sales in Philippines declined by 16.4 per cent to PHP 448 million from PHP 536 million.

Its sales in Europe, Middle-East and Africa improved by 6.2 per cent to Rs.235.5 crore from Rs.221.8 crore. Its South Africa sales increased by 27 per cent to ZAR 252 million from ZAR 199 million and its sales in Germany moved up 31.3 per cent to Euro 6.4 million from Euro 4.9 million.  

API sales declined by 12.3 per cent to Rs.291.9 crore from Rs.333 crore in the similar quarter of last year.  

Nilesh Gupta, managing director, said, “We had an excellent first half for fiscal FY2017 driven by robust growth across businesses. The company continues to invest ahead of the curve be it research or manufacturing. The quarter's profits were impacted on count of higher research spend and forex. We remain committed to improving operational performance and delivering quality products.”

For the first half ended September 2016, Lupin's consolidated net sales increased by 35.8 per cent to Rs.8,553 crore from Rs.6,299 crore in the similar half of last year. Its net profit went up by 56.2 per cent to Rs.1,544 crore from Rs.988 crore. EPS for the first half improved to Rs.34.25 from Rs.21.99 in the last period. Its revenue expenditure on R&D increased by 48.3 per cent to Rs.755 crore from Rs.509 crore. It filed 4 ANDAs and received 9 approvals from the US FDA during the second quarter. Cumulative ANDA filings with the US FDA stood at 338 as at the end of Septemebr 2016. It received total 196 approvals. It now has 45 First-to-File (FTF)filings including 25 exclusive FTF opportunities. It also filed 1 MAA with the European authority during the quarter. Cumulative filings stood at 64 and it received 54 approvals so far.