You are here: Home » Companies » Results
Business Standard

With US sales recovering, Lupin Q2 profit up 97% over Q1 to Rs 211 cr

The revenues, however, dropped by 1.2 percent on a year on year (YoY) basis to Rs 3,835 crore, but sequentially the revenues rose 8.7 percent

Topics
Lupin | Pharma | company

Sohini Das  |  Mumbai 

Lupin
Lupin stock was trading at Rs 937.8 apiece in the morning, down marginally.

Mumbai based drug maker reported a consolidated net profit of Rs 211 crore for the second quarter of the ongoing fiscal primarily led by a recovery in US sales. The had reported a net loss of Rs 185.3 crore in the corresponding period last year.

Sequentially, Lupin's net profit jumped 97.4 percent over the previous quarter. The revenues, however, dropped by 1.2 percent on a year on year (YoY) basis to Rs 3,835 crore, but sequentially the revenues rose 8.7 percent. The earnings before income tax, depreciation and amortisation (Ebitda) fell 21.1 percent YoY to Rs 606 crore with a resulting Ebitda margin of 16.8 percent for the quarter.

stock was trading at Rs 937.8 apiece in the morning, down marginally.

For the first half of the year the net profit jumped 80 percent year on year (YoY) to Rs 317 crore for the quarter while revenue from operations dropped by 5.1 percent to Rs 7,362 crore.

"We are very pleased with the strong recovery of our business during the quarter, demonstrated by sequential growth across all our geographies, in particular US and India," said Nilesh Gupta, Managing Director, US is a major market for the major, contributing 37 percent of sales and saw a 5.6 percent YoY growth. Lupin launched seven products in the US during the quarter. Gupta added, "This quarter marks the start of monetisation of our complex generic pipeline with the launch of Etanercept biosimilar in Europe and generic Albuterol in the US. We expect to sustain the momentum on margin improvement led by optimisation efforts underway and robust growth in our key businesses."

On the domestic front, the struggle continued as the saw its India formulations sales drop by 0.7 percent YoY. India is the second important market after the US constituting 35 percent of Lupin's sales.

During the quarter, the invested 10.2 percent of its sales in research and development (R&D). Lupin's personnel costs declined to Rs 6,854 crore during the quarter compared to Rs 7,936 crore in the previous quarter, while its manufacturing expenses increased to 31.4 percent of sales to Rs 11,868 crore compared to the previous quarter.

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Thu, November 05 2020. 10:13 IST
RECOMMENDED FOR YOU
.