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Mumbai-based pharmaceutical major, Lupin Limited has achieved a 26% growth in its net profit at Rs 602 crore for the third quarter ended 31st December, 2014, following a strong revenue growth from India operations.
Lupin's India formulations business grew by 14% recording net sales of Rs 743.8 crore during Q3 FY15, against Rs 650 crore in Q3 FY14.
The sales growth for the 9 months was 21%. Company's net sales grew by 5.4% to Rs 3,145 crore, up from Rs 2,983 crore in Q3 FY 2013-14.
According to the company, material cost decreased by 5% to 32.5% of net sales, at Rs 1,023 crore during Q3 FY2014-15.
Nilesh Gupta, Managing Director, Lupin Limited, said, "The company's continued focus on improving operational efficiencies has led to sustained margins and profit growth notwithstanding regulatory delays that have resulted in pressures on the topline. The performance for the three quarters taken as a whole is more representative of the growth enjoyed by the company."
Lupin's US and Europe formulation sales (Including IP) grew by just 4% to Rs 1,484 crore, as against Rs 1,422 crore, contributing 47% to overall sales. US sales increased by 1% to $217 mn during Q3 FY 2014-15.
Cumulative generic product launches for 9M FY 2014-15 now stands at 8 products. Lupin now has 74 products in the US generics market.
