Lupin's Q3 net profit rise by 21%; shares trade high

Pharmaceutical-major Lupin on Thursday reported 21% rise in net profit during the quarter ended on December 31. The company registered a consolidated net profit of Rs 633.1 crore as as against Rs 524.5 crore in December 31, 2015 quarter. 

The company's total income increased to Rs 4,586.4 crore in Q3FY17 as compared to Rs 3,614 crore in Q3FY16. The net sales during the quarter grew by 31.5% to Rs 4404.9 crore as compared to Rs 3350 crore in Q3FY16. 

As per the company's regulatory filing, the EBITDA in Q3FY17 increased by 44.6% to Rs 1319.4 crore as compared to Rs 912.5 crore in Q3FY16. 

Commenting on the results, Nilesh Gupta, Managing Director, Lupin Limited, said “This has been a particularly strong year for our US Generic business. We had another strong quarter driven by consistent growth across key markets be it the US, India, Japan, EMEA, APAC and Latin America. I am also happy to share that we have made significant progress on evolving our complex generic pipeline and our stellar compliance record continues”. 

Lupin’s India formulation sales grew by 11.9% to Rs. 991.2 crore during Q3FY17 as compared to Rs. 886 crore during Q3 FY2016; contributing 22% of Lupin’s global sales. The India Formulation business decreased by 0.5% sequentially as compared to Rs. 995.8 crore during Q2 FY2017. Sales has grown by 9.7% during 9M FY2017, the company said. 

At 1400 hours the shares of the company were trading at Rs 1501.30 per piece, up 0.91% or Rs 13.60 on BSE.