Lupin today reported a 55% increase in net profit for the first quarter ended June 2007 (Q1FY08) to Rs 78.4 crore, compared to Rs 50.7 crore in Q1FY07.
The company reported a 28% increase in its net sales to Rs 601.7 crore for the period, compared to Rs 468.8 crore in Q1FY07.
Export revenues were at Rs 301.8 crore with a rise of 52% and of these, formulation exports to advanced markets constituted 58% at Rs 175.5 crore. Formulation revenues from the domestic market recorded a rise of 22% to Rs 252.8 crore , compared to Rs 206.6 crore.
Lupin said formulation revenues from North America and Europe grew 233% during the quarter to Rs 175.5 crore, compared to Rs. 52.7 crore in the previous year period. Lisinopril tablets maintained its US market leadership with about 30% market share and revenues from Suprax (cefixime), its flagship anti-bacterial drug, achieved 45% growth in the US market. The company launched four new products in US, including the complete range of Cefdinir antibiotics.
Research and development expenditure during the quarter was at Rs 37.3 crore, representing 6% of revenues and the company filed four abbreviated new drug applications (ANDA) with the US FDA.
Earnings before interest, tax, depreciation and amortization (EBITDA) were Rs 119.2 crore, with an increase of 43% compared to Rs 83.3 crore during the previous year period. Profit before tax grew 53% to Rs 97.6 crore compared to Rs 63.7 crore in the previous year period. Provision for taxation, including the fringe benefit tax, stood at Rs 19.3 crore from Rs 13 crore in Q1FY07. |
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