Lupin Q2 net up 158%
BS 200 SCORECARD
| Driven by buoyant offtake in the US market with the launch of Ceftriaxone vials for injection, the company's exports revenues grew 42 per cent to Rs. 185.5 crore from Rs 130.2 crore last year. |
| Domestic revenues also kept up the growth momentum with an increase of 24 per cent to reach Rs 233.7 crore from Rs 188 crore registered in the corresponding quarter last year. |
| According to Kamal Sharma, managing director, the higher level of profitability was driven mostly by higher sales in both the finished dosage and bulk drugs (APIs) businesses across various markets. New product launches in the US market and higher API volumes in the developing markets particularly contributed to this growth. |
| Lisinopril API revenues to advanced markets though were down on account of lower offtake by certain customers. The company was also impacted by the reduction in prices of certain finished dosages in the domestic market. |
| During the quarter, the company spent Rs.23.1 crore on R&D expenses taking the total spend during the first half of 2005-06 to Rs 41.8 crore representing 6 per cent of net revenues. Lupin received ANDA approvals for Lisinopril Tablets and Cephalexin Suspension respectively during the quarter under review. |
| For the half-year ended 30 September 2005, Lupin reported a 26 per cent growth in gross sales at Rs 7,84.7 crore against Rs 6,20.7 crore of the corresponding quarter last year. Domestic revenue grew at 20 per cent at Rs. 440.5 crore from Rs 368.1 crore recorded during the corresponding quarter last year. |
| Export revenues increased by 36 per cent at Rs. 344.1 crore from Rs. 252.6 crore of the corresponding period last year. In line with its strategy of building long-term alliances, the company entered into long-term marketing agreements with companies like Kyowa Pharmaceutical Industry, DSM Anti-Infectives, Aspen Pharmacare and Ranbaxy Laboratories. |