Lupin Q4 result: Net profit up 52% at Rs 359 cr, revenue from ops rises 12%

'Our US sales remain healthy driven by inhalation products, and our India formulation business is delivering ahead of market,' said Nilesh Gupta, MDirector, Lupin

Mumbai-based pharmaceutical firm Lupin Limited, on Monday, announced a 52 per cent year-on-year (Y-o-Y) increase in its consolidated net profit, reaching Rs 359.43 crore for the January-March quarter of Financial year 2023-24 (Q4FY24).

The company had reported Rs 235.96 crore in Q4FY23, according to Lupin Limited's stock exchange filing.

According to the statement, the company's revenue from operations also saw a notable uptick, climbing 12 per cent to Rs 49,60.8 crore from Rs 4,430.1 crore in the corresponding quarter of the previous year.

Moreover, the company's earnings before interest, taxes, depreciation, and amortisation (Ebitda) surged by 66 per cent to Rs 1,026.1 crore, up from Rs 615 crore. This resulted in an improved Ebitda margin of 14.2 per cent, compared to 11.5 per cent in the year-ago period.

“We continue to move forward with sustainable and profitable growth and delivered another strong set of numbers in Q4. Our US sales remain healthy driven by inhalation products, and our India formulation business is delivering ahead of market," said Nilesh Gupta, Managing Director, Lupin Limited in a press statement.

"While FY24 has been a year of resurgence for the company, we look forward to an even stronger FY25 driven by growth across our key geographies and consistent improvement in our margins," he added.

According to the statement, India formulation sales for FY24 were Rs 66,56.4 crore, up 9.6 per cent as compared to Rs 60,75.9 crore in FY2023; accounting for 34 per cent of Lupin’s global sales. Q4 FY2024 sales were Rs 16,01.5 crore, down 7.2 per cent compared to Rs 17,25.1 crore in Q3 FY2024; up 8.3 per cent compared to Rs 14,78.6 crore in Q4FY23, accounting for 33 per cent of Lupin’s global sales.

"India Region Formulation sales declined by 10.1 per cent in the quarter as compared to Q3FY24; up 4.9 per cent as compared to Q4FY23," the company said in the statement.

The company launched seven brands across therapies during the quarter.