Lupin Ltd, India’s third largest pharmaceuticals company by sales, reported a robust 47.5 percent year-on-year growth in net profit to Rs801.7 crore for the quarter ended March 31, 2016.
The Mumbai-based company that announced its earnings on Thursday recorded revenues of Rs4,091.30 crore for the January-March quarter, up 34 percent growth over the same period of fiscal 2015.
The company earnings before interest, tax, depreciation and amortization (Ebitda) grew 47.8 percent in this period to Rs942.5 crore; with a strong Ebitda margin of 34 percent.
The growth in earnings during the last quarter of FY2016 was driven by Lupin’s US formulations business, with sales from the segment increasing 58.7 percent year-on-year. Sales in other regions including India and Japan also grew during the period.
For the full fiscal year 2015-16, Lupin reported a turnover of Rs13,701.60 crore, up 8.74 percent over the year earlier; its net profit in the same period declined 5.5 percent to Rs2,270.70 crore.
“We have had a stellar quarter driven by robust growth across all key markets, be it US, India or Japan,” Lupin’s MD Nilesh Gupta said in a statement. “Record approvals and significant launches have enabled us to deliver the company’s best results yet and we are back on the growth path. We continue to ramp up our investments in research and are focused on building pipelines in niche high-value areas such as inhalation, biosimilars and complex injectibles. On the back of our continued delivery on oral solids, this will drive our future growth globally.”
In FY2016, Lupin filed 36 Abbreviated New Drug Application (ANDAs), which are approvals sought from the US Food and Drug Administration to launch generic versions of drugs and secured 39 product approvals, which augurs well for future growth.
Lupin’s expenditure on research and development stood at 12.5 percent of its net sales for the quarter.