Lupin Q4 PAT up 32% to Rs 391 cr

Lupin's consolidated net profit jumped 32% to Rs 391.29 crore on 0.4% slip in net sales to Rs 3,791 crore in Q4 March 2020 over Q4 March 2019.

The jump in net profit was supported by a 185% surge in other income and an exceptional gain of Rs 83 crore. The exceptional gain was due to profit on sale of its stake in Kyowa Pharmaceutical Industry.

Consolidated profit before tax (PBT) dropped 16% to Rs 496.36 crore in Q4 March 2020 as against Rs 590.64 crore in Q4 March 2019. Current tax expenses fell 68.9% to Rs 96.51 crore in Q4 March 2020 as compared to Rs 310.44 crore in Q4 March 2019. The result was declared post trading hours yesterday, 28 May 2020.

EBITDA fell 13.9% to Rs 733.90 crore in Q4 March 2020 from Rs 852.50 crore in Q4 March 2019. EBITDA margin stood at 19.4% in Q4 FY20 as against 22.4% in Q4 FY19.

Investment in R&D for continued operations amounted to Rs 344.20 crore (9.1% of sales) for Q4 FY20. Total formulations sales fell 1.5% to Rs 3462.40 crore while total API sales rose 12.8% to 328.60 crore in Q4 March 2020 over Q4 March 2019.

Speaking on the Q4 performance, Nilesh Gupta, the managing director of Lupin, has stated that: "We closed the year with strong growth across all our key markets, and significant strengthening of our profitability and balance sheet. We have had strong momentum in our two major markets, the US and India, and on compliance across our facilities. Importantly, in the current times, we have been able to ensure business continuity while safeguarding the health and safety of our employees."

Net debt as on 31 March 2020 stood at Rs 1511.80 crore. Net debt-equity ratio for the company stood at 0.12:1 as on 31 March 2020.

Meanwhile, the board recommended dividend Rs 6 per equity share for the year ended 31 March 2020. The board has also approved the re-appointed Vinita Gupta as chief executive officer (CEO) for a period of 5 years effective Thursday, 28 May 2020.

Shares of Lupin declined 3.96% to Rs 846.55 on BSE. The scrip hovered in the range of Rs 840.40 to Rs 870 so far.

Lupin is an innovation-led transnational pharmaceutical company.

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