Lupin Ltd has produced an excellent financial results for the year 2006-07 mainly due to significant rise in the other income. The company's standalone net profit increased by 65.3 per cent to Rs 302.06 crore from Rs 182.72 crore in the previous year. The net sales increased by 22.7 per cent to Rs 1970.93 crore from Rs 1606.10 crore. The board of directors recommended equity dividend of 50 per cent (65 per cent in the previous year), on increased equity capital resulted from the bonus share issue in the ratio of 1:1. Equity dividend will absorb an amount of Rs 47 crore.

Lupin's other income increased by 157 per cent or Rs 114.14 crore during FY2007 mainly due to income on sale of certain intellectual properties for 'Perindroril'. This largely helped the company to push its profit levels in the year under review.

Lupin share opened at Rs 730 on BSE today, but failed to maintain the momentum and reached at its inter-day low at Rs 702 with closing at Rs 709, after the announcement of financial results.

The company's research and development expenditure reached at Rs 135.90 crore during 2006-07 and worked out to 6.7 per cent of its gross revenue. The same was at s 108.02 crore in the previous year. The company filed 15 ANDAs, 14 DMFs, 24 EDMFs/COS, 11MAA (EU) and seven dossiers (TGA) during 2006-07.

The company's total formulation revenues from the advanced markets increased by 48 per cent to s 331.80 crore from Rs 223.6 crore. Its Lisinopril tablets attained market leadership with 33 per cent market share. Suprax revenue at the US subsidiary Lupin Pharmaceuticals Inc. achieved 73 per cent growth in sales to US$ 24.6 million. The company launched five products in the US.

The API business from the developing markets, including India, improved by 14 per cent to Rs 661 crore during the year ended March 2007 from Rs 577.6 crore in the previous year. The finished dosage revenues from developing markets increased by 31 per cent to Rs 900.90 crore from Rs 687.20 crore. The sales of finished dosage from domestic market grew by 24 per cent to Rs 753.1 crore from Rs 606.40 crore and that from API improved by 11 per cent to Rs 300.6 crore from Rs 271.70 crore.

The consolidated net profit for the year 2006-07 increased by 78.4 per cent to Rs 308.56 crore from Rs 172.99 crore. Its consolidated net sales moved up by 25.1 per cent to Rs 2212.76 crore from Rs 1769.50 crore in the previous year.