Lupin Q1 Net Jumps 55% | CORPORATE ETHOS

Lupin Q1 Net Jumps 55%

By: | August 9, 2016

Aug 9: Mumbai-based pharma major Lupin Ltd on Tuesday posted a 55.1% growth in its net profit for the quarter ended June 30, 2016.

The net profit for the first quarter in the ongoing fiscal increased to Rs 8,820 million from Rs 5,686 million in Q1 of FY16. This is a quarter-over-quarter growth of 17.9% as compared to Rs 7,479 million in last quarter of the previous fiscal.

Net Sales for the quarter also rose 40% to Rs 43,136 million, as against Rs 30,809 million in the same quarter over a year ago.

Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) for the quarter was 32.2% of net sales and grew by 54.4% to Rs 13,907 million as compared to Rs 9,005 million in the year-ago period.

The company invested Rs 4,994 million, which is 11.6% of its net sales, for research during the quarter.

Nilesh Gupta, Managing Director, Lupin Ltd, said, “in keeping with the growth momentum, we continue to execute flawlessly and have delivered our best results to date. This was a record quarter, driven by robust growth across all our key markets – the United States, India and Japan. We remain committed to maintaining our growth trajectory given new product launches and approvals driven by strategic investments in technology and research.”

The shares of Lupin Ltd were trading at Rs 1,607.60, down 5.03%, on BSE. The Rs 2 face value shares have an EPS of 23.96 and a P/E ratio of 23.35. The company has an equity capital of Rs 90.18 crore and a market capitalization of Rs 72,499.72 crore.