Drugmaker Lupin net profit (profit after tax) grew 18.2 percent year-on-year (YoY) to Rs 460.4 crore in the quarter ended March 31 led by cost optimisation and growth in India and other emerging markets.
The company reported a net profit of Rs 390 crore during the corresponding period of the previous year.
Revenues of Lupin dropped by 1.6 percent YoY to Rs 3,783 crore, compared to the previous year's Rs 3845.7 crore. On a QoQ basis, the revenue dropped 5.8 percent.
The EBITDA grew 4.3 percent YoY to Rs 765.7 crore in Q4FY21. The EBITDA margin stood at 18.8 percent.
Investment in R&D was at Rs 343 crore, or 9.1 percent, of sales for Q4FY21.
“We are happy that the journey to sustain margin improvement continues, despite a challenging environment. On the back of a strong ramp-up of inline products and meaningful new product launches, we are confident of a solid growth trajectory and continued margin expansion,”said Nilesh Gupta, Managing Director, Lupin.
“Ensuring the safety of our employees while maintaining business continuity is a key priority at this time,” Gupta added.
North America which constitutes 40 percent of sales or Rs 1,495.2 crore saw decline of 5.3 percent on YoY basis. The growth was at 3.7 percent on a QoQ basis.
The company launched 3 products during the quarter in the US market and now has 168 products in the US generics market. Lupin has filed 9 ANDAs (abbreviated new drug applications) during the quarter and received 6 ANDA approval from the USFDA.
Lupin’s India formulation sales that contributes 35 percent of revenues, grew 7.9 percent YoY basis to Rs 12,866 crore. The growth markets 8.3 percent YoY to Rs 303 crore.