Lupin reports 72 percent decline in consolidated net profit at Rs 153 crore for Q3

Written by Ruchika Sharma Published On 2023-02-11T09:00:05+05:30 | Updated On 11 Feb 2023 9:00 AM IST

Lupin reports 72 percent decline in consolidated net profit at Rs 153 crore for Q3

New Delhi: Drug maker Lupin has reported 72 percent decline in consolidated net profit at Rs 153 crore for the third quarter ended December 31, 2022. The company had reported a net profit of Rs 545 crore for October-December period last fiscal.

Total revenue from operations however increased to Rs 4,322 crore as compared with Rs 4,161 crore in the year-ago period, the company said in a statement.

"Sales in the US have improved on the back of new product launches and the brand acquisition we made during the quarter. Excluding the impact of genericization on our diabetes portfolio, the India business has performed in line with the market," Lupin's Managing Director Nilesh Gupta stated.

With the recent sales force expansion and new product launches, the company expects to be back to above-market growth, he added.

Read also: Lupin bags tentative USFDA nod for Dolutegravir, Emtricitabine and Tenofovir Alafenamide Tablets to control HIV infections

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 8.7% of its revenue in research and development in FY22. Lupin has 15 manufacturing sites and 7 research centers.

Read also: Spain approves reimbursement of Lupin NaMuscla for symptomatic treatment of myotonia in adults with non-dystrophic myotonic disorders

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Source : with inputs

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