Buoyed by higher formulation sales in advanced markets , pharmaceutical company Lupin Ltd on Thursday reported a 27 per cent rise in net profit for 2010-11 at Rs 862.6 crore, compared to Rs 681.6 crore in the previous year. Sales in the US, Europe and Japan rose 22 per cent to Rs 2,823 crore from Rs 2,323 crore.
Net sales for 2010-11 grew 20 per cent to Rs 5,707 crore from Rs 4,774 crore. Advanced markets contributed 49 per cent to the company’s net sales. Lupin declared equity dividend of 150 per cent on each Rs 2 equity share for 2010-11.
Formulation sales in the US and European Union grew 23 per cent to Rs 2,201 crore from Rs 1,789 crore. Kyowa, Lupin’s Japanese arm, grew 16 per cent to Rs 621 crore. Net sales of India region formulations rose 17 per cent to Rs 1,551 crore from Rs 1,330 crore.