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| Lupin Q4 net surges 40% |
| BS Reporter / Mumbai May 06, 2010, 01:09 IST |
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Better performance in the US, Europe and Japanese markets helped drug major Lupin post a net profit of Rs 220.6 crore for the fourth quarter of 2009-10, about 40 per cent higher than the Rs 157.4 crore net profit for the fourth quarter of 2008-09. Net sales for the quarter were also higher by 23 per cent, at Rs 1,284.8 crore.
“Lupin today has the unique distinction of being the fastest-growing among the top 10 generics players in the US, Japan, South Africa and the Philippines, even as we continue to expand and garner larger market shares in these markets,” said Kamal K Sharma, managing director.
For the year ended March 31, net profit grew by 36 per cent to Rs 681.6 crore, compared to Rs 501.5 crore for 2008-09. Net sales grew by 26 per cent to Rs 4,740.5 crore from Rs 3,775.9 crore in the previous year.
The company said its international business increased by 29.4 per cent to Rs 3,196.6 crore for the year from Rs 2,470.1 crore in 2008-09. Advanced markets’ sales (US, Europe, Japan) also increased by 34 per cent over last year and stood at 49 per cent of gross sales for the year.
Lupin's largest market, the US, grew by 38 per cent to Rs 1,789 crore revenue, and Japan and India sales grew by about 20 per cent each during the quarter. The domestic formulations’ business grew at 18 per cent to Rs 1,300 crore for the period. Lupin’s Japanese subsidiary, Kyowa, contributed to 11 per cent of total company revenues, at Rs 534.1 crore, registering a growth of 21 per cent. Revenues from its South African subsidiary, Pharma Dynamics, also grew 57 per cent to Rs 132.8 crore.
Lupin's board of directors has proposed a dividend of Rs 13.50 per equity share of the face value of Rs 10 each.
Its share prices increased 4.2 per cent on the Bombay Stock Exchange today to touch a 52-week high of Rs 1,833 and close at Rs Rs 1,820.30.
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