Lupin consolidated net profit up 24% at Rs 545 crore in Dec quarter

Drugmaker Lupin reported a 24.45 per cent rise in its consolidated net profit at Rs 545.5 crore for the third quarter ended December 31

Drugmaker Lupin on Friday reported a 24.45 per cent rise in its consolidated net profit at Rs 545.5 crore for the third quarter ended December 31.

The Mumbai-based drugmaker had reported a net profit of Rs 438.3 crore in the October-December quarter of the previous fiscal.

The company's sales increased to Rs 4,087.5 crore in the third quarter, against Rs 3,917.3 crore in the same period of 2020-21, Lupin said in a statement.

"We are on the path of sustained growth across markets. Our inhalation portfolio continues to build share in the US and helped register double-digit growth sequentially, despite pricing and demand challenges on seasonal products," Lupin Managing Director Nilesh Gupta said.

The inflationary environment has impacted margins, but the company remains focussed on margin and EBIDTA improvement as it delivers on key product launches, cost optimisation and improving efficiencies, especially by H2 FY23, he added.

North America sales for the third quarter stood at Rs 1,577.5 crore.