Lupin posts stellar Q2 earnings

Lupin has reported a stellar set of earnings for the July-September quarter on all three fronts of revenue, net profit and profitability. Its net profit surged manifold to Rs 489.67 crore, sharply up from Rs 129.73 crore in the year-ago period. The jump in profit was aided by strong revenue, which grew over 20 percent on year to Rs 4,939.20 crore. The revenue growth was driven by strong US sales following the launch of the blockbuster respiratory drug Spiriva during the quarter.

“We delivered growth across all our target geographies, while managing costs and achieving operating leverage, thereby driving strong topline and bottomline growth,” Nilesh Gupta, Managing Director, Lupin Limited, said.

Its US sales surged over 40 percent on-year to Rs 1,866.60 crore and made up 38 percent of Lupin’s global sales. Revenue from Rest of the World Markets also surged twofold to Rs 199 crore. However, the India market underperformed, growing just 7 percent. The company’s operational performance also improved dramatically as the EBITDA margin expanded 800 basis points on year to 19.4 percent.