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| Lupin net profit up 64% to Rs 157 crore |
| BS Reporter / Mumbai May 14, 2009, 00:07 IST |
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Riding on 75 per cent growth in formulation business in the US market, drug maker Lupin Ltd posted a net profit of Rs 157.4 crore for the fourth quarter of 2007-08, 64.12 per cent more than Rs 95.9 crore in the fourth quarter of the previous financial year.
Total income has increased 36.52 per cent from Rs783.1 crore for the quarter ended March 31, 2008, to Rs 1069.1 crore for the quarter ended March 31, 2009, according to consolidated results.
Net profit for 2008-09 grew 50.2 per cent to Rs 501.5 crore compared with Rs 333.8 crore in previous year, excluding last year’s gains from sale of intellectual property related to a drug, perindropil, which Lupin sold to a French company.
In 2008-09, net sales grew 39.5 per cent to Rs 3775.9 crore, from Rs 2706.4 crore last year.
DB Gupta, chairman, Lupin, said the company registered growth in profits and net sales for the 11th consecutive quarter, one of the best in India’s drug industry. Growth for the year was powered by increase in exports, which were up 63.2 per cent to Rs 2,470 crore.
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