Key takeaways from Lupin’s Q3 earnings
US sales jumped 13.50 per cent QoQ to Rs 1417.40 crore in Q3FY19.
Lupin on Wednesday posted a loss of Rs 151.75 crore for the quarter ended December 31, against a profit of Rs 221.73 crore in the corresponding quarter last year.
Analysts in an ET Now poll had projected a profit of Rs 268 crore.
Here are the top five takeaways from Lupin's third quarter earnings:
Topline: Sales during the quarter increased 12.24 per cent YoY to Rs 4,377.94 crore during the quarter under review. The figure stood at Rs 3,900.36 crore a year ago.
Ebitda: Earnings before interest, tax, depreciation and amortisation (Ebitda) for the quarter grew 2 per cent to Rs 796 crore (18.2 per cent of sales) compared to Rs 780.3 crore (20.1 per cent of sales) in Q2 FY2019. EBITDA for the quarter increased by 11 per cent YoY compared to Rs 716.8 crore in Q3 FY2018.
Exception expense: Exceptional item includes provision of 42.8 million euros (Rs 3,42.22 crore) made including interest of 2.8 million euros (Rs 22.27 crore) for fine upheld by the General Court of the European Union in Lupin's appeal against the European Commission's (EC) 2014 decision in the Perindopril litigation
Management take: Nilesh Gupta, Managing Director, Lupin Limited said: After a tough H1, we are now starting to see growth in the US. The growth momentum in the US will continue into the next quarter as we are on track with important launches like Levothyroxine and Ranolazine. Monetization of our innovative R&D molecule was an important milestone achieved during the quarter. We are also on track to deliver on our cost optimization efforts and expect meaningful benefit next fiscal onwards.
Sales mix: US sales jumped 13.50 per cent QoQ to Rs 1417.40 crore in Q3FY19. However, the figure declined 1 per cent on YoY basis. Sales from India jumped 11.40 per cent YoY to Rs 1190.20 crore, whereas the figure slipped 1.10 per cent on QoQ basis.
Analysts in an ET Now poll had projected a profit of Rs 268 crore.
Here are the top five takeaways from Lupin's third quarter earnings:
Topline: Sales during the quarter increased 12.24 per cent YoY to Rs 4,377.94 crore during the quarter under review. The figure stood at Rs 3,900.36 crore a year ago.
Ebitda: Earnings before interest, tax, depreciation and amortisation (Ebitda) for the quarter grew 2 per cent to Rs 796 crore (18.2 per cent of sales) compared to Rs 780.3 crore (20.1 per cent of sales) in Q2 FY2019. EBITDA for the quarter increased by 11 per cent YoY compared to Rs 716.8 crore in Q3 FY2018.
Exception expense: Exceptional item includes provision of 42.8 million euros (Rs 3,42.22 crore) made including interest of 2.8 million euros (Rs 22.27 crore) for fine upheld by the General Court of the European Union in Lupin's appeal against the European Commission's (EC) 2014 decision in the Perindopril litigation
Management take: Nilesh Gupta, Managing Director, Lupin Limited said: After a tough H1, we are now starting to see growth in the US. The growth momentum in the US will continue into the next quarter as we are on track with important launches like Levothyroxine and Ranolazine. Monetization of our innovative R&D molecule was an important milestone achieved during the quarter. We are also on track to deliver on our cost optimization efforts and expect meaningful benefit next fiscal onwards.
Sales mix: US sales jumped 13.50 per cent QoQ to Rs 1417.40 crore in Q3FY19. However, the figure declined 1 per cent on YoY basis. Sales from India jumped 11.40 per cent YoY to Rs 1190.20 crore, whereas the figure slipped 1.10 per cent on QoQ basis.
