Lupin net profit up 24 percent at Rs 545 crore in Q3

Written by Ruchika Sharma Published On 2022-02-07T10:00:49+05:30 | Updated On 7 Feb 2022 10:00 AM IST

Lupin net profit up 24 percent at Rs 545 crore in Q3

New Delhi: Drugmaker Lupin on Friday reported a 24.45 per cent rise in its consolidated net profit at Rs 545.5 crore for the third quarter ended December 31. The Mumbai-based drugmaker had reported a net profit of Rs 438.3 crore in the October-December quarter of the previous fiscal.

The company's sales increased to Rs 4,087.5 crore in the third quarter, against Rs 3,917.3 crore in the same period of 2020-21, Lupin said in a statement.

"We are on the path of sustained growth across markets. Our inhalation portfolio continues to build share in the US and helped register double-digit growth sequentially, despite pricing and demand challenges on seasonal products," Lupin Managing Director Nilesh Gupta said.

The inflationary environment has impacted margins, but the company remains focussed on margin and EBIDTA improvement as it delivers on key product launches, cost optimisation and improving efficiencies, especially by H2 FY23, he added.

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The drug firm said its North America sales for the third quarter stood at Rs 1,577.5 crore, compared to Rs 1,442.4 crore in the year-ago quarter.

The India formulation sales for the third quarter stood at Rs 1,473.3 crore, against Rs 1,366.9 crore in Q3 of FY2021, it added.

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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 APls in over 100 markets In the U.S., India, South Africa and across Asia Pacific (APAC), Latin America (LATAM), Europe and Middle East regions.

The Company specializes in the cardiovascular, anti-diabetic, and respiratory segments and has significant presence in the anti-infective, gastro-intestinal (GI), central nervous system (CNS) and women's health areas.

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Source : PTI

Ruchika Sharma

Ruchika Sharma joined Medical Dialogue as an Correspondent for the Business Section in 2019. She covers all the updates in the Pharmaceutical field, Policy, Insurance, Business Healthcare, Medical News, Health News, Pharma News, Healthcare and Investment. She has completed her B.Com from Delhi University and then pursued postgraduation in M.Com. She can be contacted at editorial@medicaldialogues.in Contact no. 011-43720751