Lupin, the fourth largest pharma giant in India with net sales of Rs.11,000 crore plus, has exhibited impressive financial performance during the first quarter ended June 2014 and its consolidated net profit went up sharply by 55.8 per cent to Rs.625 crore from Rs.401 crore in the similar period of last year. Its consolidated net sales also moved up by 35.7 per cent to Rs.3,284 crore from Rs.2,421 crore. The earnings per share touched to Rs.13.93 from Rs.8.96 in the last period.

After the announcement of strong financial results, Lupin scrip reached at its yearly highest level today and touched to Rs.1174.40 on BSE. The scrip surged almost 5 per cent today.

The company's EBDITA increased by 65.6 per cent to Rs.1144 crore from Rs.690 crore in the similar quarter of last year. Its R&D expenditure moved up to Rs.243.86 crore from Rs.195.62 crore and worked out to 7.4 per cent of its revenues. It filed 8 ANDAs and received 4 approvals for the US FDA. Lupin's cumulative ANDA filings stood at 200 and received 103 approvals upto end of June 2014. Similarly, its cumulative filings with European authorities now sand at 57 with the company having received 49 approvals.

Its international sales increased sharply 37.6 per cent to Rs.2,476 crore from Rs.1,800 crore and domestic sales by 28 per cent to Rs.865 crore from Rs.676 crore in the corresponding period of last year. Its capital expenditure stood at Rs.108.30 crore and it enjoy 'Debt free' status.

The sales of formulations touched to Rs.2,992 crore during the first quarter of 2014-15 from Rs.2,178 crore in the last period and APIs sales moved up by 20 per cent to Rs.293 crore from Rs.243 crore.  Its US sales increased by 57 per cent to Rs.1,606 crore from Rs.1,026 crore. The worked out to 49 per cent to overall sales. It launched 4 products in the US and it has now 73 products in the US market. However, its European sales declined by 7 per cent to Rs.69 crore from Rs.74 crore. The company's sales in Japan improved by 17 per cent to Rs.342 crore from Rs.292 crore.

Nilesh Gupta, director, said, “We have had a great start to the year. Business is at an all time high with record revenues and profits driven by strong growth in the US and in India. We are doing well in all our businesses and focus on operational efficiencies and manufacturing excellence is helping us deliver even stronger margins.”

The company is set to acquire 100 per cent stake in Laboratorios Grin S.A. De C.V., Mexico through its subsidiary in Switzerland after certain approvals.

Lupin is taking steps to fight notice received from the European Commission for alleged breach of the EU Antitrust Rules, whereby EU has sought to levy a fine of Euro 40 million (Rs.325.37 crore) on the company.