Lupin Q1 net jumps 2-fold at Rs 112.04 cr

The company had a net profit of Rs 55.88 crore in the first quarter of FY'08, Lupin said in a filing to the Bombay Stock Exchange.     

The consolidated total income rose 49.15 per cent to Rs 882.47 crore in the latest quarter, from Rs 591.65 crore in the year-ago period.     

"Lupin Pharmaceutical has garnered a steady growth in prescriptions for generics as well as branded formulations during the quarter," the drug firm added.     

During the first quarter, Lupin reported a standalone net profit of Rs 108.52 crore, a 34.45 per cent growth over the same period in the previous fiscal. The company had a net profit of Rs 78.38 crore in Q1 of FY'08.     

The total income rose to Rs 731.23 crore in the latest quarter from Rs 616.89 crore in the year-ago period.      

"Our investment in the European market and some of the emerging markets have begun to bear fruit, which will stand us in good stead. We are confident of building this momentum further in the coming quarter," Lupin Managing Director Kamal Sharma said.     

The company's domestic formulation business grew at 25 per cent, while the advanced markets formulation business in the US and Europe grew 69 per cent to clock a sale of Rs 253 crore, against Rs 149.4 crore in the year-ago period, it added.     

During the quarter, the company launched Ramipril capsules in the US, while its Japanese business contributed 10 per cent to the overall revenues.     

Shares of the company were trading at Rs 725, up 3.97 per cent on the Bombay Stock Exchange.