Lupin reports 18 per cent increase in Q4 net profit at Rs 460 crore; FY21 profit at Rs 1,216 crore

NEW DELHI: Drug maker Lupin on Thursday reported an 18 per cent increase in its consolidated net profit at Rs 460 crore for the fourth quarter ended March 31, 2021, driven by robust sales across domestic and international markets.

The Mumbai-based company had reported a net profit of Rs 390 crore in the January-March quarter of 2019-20.

The company's total income from operations however declined to Rs 3,783 crore during the fourth quarter, as compared to Rs 3,846 crore in the corresponding period of FY20, Lupin Ltd said in a statement.

For the entire 2020-21 fiscal, the drug maker posted a consolidated net profit of Rs 1,216 crore. The company had reported a net loss of Rs 269 crore in 2019-20 financial year.

Total income from operations for the last fiscal stood at Rs 15,163 crore, as compared to Rs 15,375 crore in 2019-20.

"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," Lupin Ltd Managing Director Nilesh Gupta said.

Ensuring the safety of our employees while maintaining business continuity is a key priority at this time, he added.

The company said its board has recommended a dividend of Rs 6.5 per equity share of the face value of Rs 2 each aggregating to Rs 295 crore.

The drug firm noted that its capital expenditure for the fourth quarter stood at Rs 140 crore and for the full year (FY21) at Rs 628 crore. Besides, the company's net debt as on March 31, 2021 stood at Rs 663 crore, it added.