Lupin Q4 net up 64% at Rs 157cr; plans acquisition abroad

Pharma company Lupin today reported a 64.2 per cent growth in net profit at Rs 157.4 crore in the fourth quarter ended March 31, 2009.

The drug firm had a net profit of Rs 95.9 crore in the March quarter of FY08, Lupin said in a statement. Net sales in March quarter rose by 39 per cent to Rs 1,043.4 crore.

The company declared a dividend of Rs 12.50 a piece on shares of face value of Rs 10 each for fiscal ended March 31.

Its sales in the US and European Union grew 70 per cent to Rs 1,431 crore. Overall exports grew 63.2 per cent at Rs 2,470 crore during the fiscal.

The company is looking for acquisition in the Latin American and West Asian markets, Lupin Chairman D B Gupta told reporters here, but he did not give details of acquisition.

Last year, the company made acquisitions in Germany, Australia, South Africa and the Philippines.

For the financial year ended March 31, the company posted a net profit of Rs 501.5-crore, up 50.2 per cent from Rs 333.8 crore in FY08.

Net sales during the fiscal 2008-09 stood at Rs 3,775.9 crore, up 39.5 per cent from Rs 2,706.4 crore in FY08.

"The company has witnessed 11th successive year of growth registering strong sales in the US, European Union, Japan and India," Gupta said, adding the company grew 24 per cent organically last year.