Lupin Q2 net up 39% at Rs 160 cr

Improved sales in key global markets saw a 39 per cent spurt in the net profit of pharma major Lupin Ltd during the quarter.

The company posted a net profit of Rs 160.3 crore against Rs 115.6 crore during the corresponding three months last year. Net sales grew by 23 per cent to Rs 1,114.7 crore as against Rs 908.4 crore in the same period a year earlier.

Terming it a landmark quarter, Kamal K Sharma, managing director, said: “We successfully out-licensed a novel drug delivery platform. We also further strengthened our brand business in the US with the acquisition of Antara from Oscient. Going forward, we continue firing on all cylinders, consolidating on the gains made over the past three years to create a foundation to scale even higher orbits of growth.”

Lupin said it was amongst the fastest growing generics players in the US, Japan and South Africa.

Formulation sales for these three regions — 43 per cent of its overall sales — increased by 27 per cent to Rs 481.5 crore during the quarter, as compared to Rs 377.9 crore in the same period last year.

Indian sales, which contributed 31 per cent to Lupin’s overall sales, grew 18.5 percent to Rs 346.7 crore as compared to Rs 292.6 crore on a year on year basis.