Lupin net profit surges 52 percent at Rs 359 crore in Q4
New Delhi: Pharmaceutical giant Lupin has announced a notable 52 percent surge in consolidated net profit, reaching Rs 359 crore in the March quarter.
The Company recorded a net profit of Rs 236 crore in the January-March quarter of the 2022-23 fiscal year.
Total revenue from operations rose to Rs 4,961 crore in the period under review as compared with Rs 4,430 crore in the same period last fiscal, Lupin said in a regulatory filing.
For the year ended March 31, 2024, the company reported a net profit of Rs 1,914 crore while the same stood at Rs 430 crore in the same quarter of FY23.
Revenue from operations rose to Rs 20,011 crore in the last fiscal as against Rs 16,642 crore in the 2022-23 fiscal.
"We continue to move forward with sustainable and profitable growth and delivered another strong set of numbers in Q4. Our US sales remain healthy driven by inhalation products, and our India formulation business is delivering ahead of the market," Lupin Managing Director Nilesh Gupta said.
While FY24 has been a year of resurgence for the company, the drugmaker looks forward to an even stronger FY25 driven by growth across key geographies and consistent improvement in margins, he added.
As per PTI report, The company said its board approved a final dividend of Rs 8 per share of the face value of Rs 2 each for the year ended March 31, 2024.
Read also: Lupin bags USFDA nod for Travoprost Ophthalmic Solution
Lupin is an innovation-led transnational pharmaceutical company headquartered in Mumbai, India. The Company develops and commercializes a wide range of branded and generic formulations, biotechnology products, and APIs in over 100 markets in the U.S., India, South Africa, and across the Asia Pacific (APAC), Latin America (LATAM), Europe, and Middle East regions.
The Company specializes in the cardiovascular, anti-diabetic, and respiratory segments and has a significant presence in the anti-infective, gastro-intestinal (GI), central nervous system (CNS), and women’s health areas. The company invested 7.8% of its revenue in research and development in FY24.
Lupin has 15 manufacturing sites, 7 research centers.
Read also: Lupin bags USFDA nod for Travoprost Ophthalmic Solution
