Lupin Group has posted a 76% increase in consolidated net profit at Rs 308.56 crore for the year ended March 31, 2007 when compared with Rs 172.99 crore for the year ended March 31, 2006.According to an official release issued by the company to the BSE today, total income has increased to Rs 2212.76 crore for FY07 from Rs 1769.50 crore for FY06.For the quarter ended March 31, 2007, the company has posted a net profit of Rs 137.08 crore when compared with Rs 50.19 crore for Q4FY06. Total income has increased to Rs 646.40 crore for the quarter ended March 31, 2007, from Rs 463.02 crore for the quarter ended March 31, 2006.On a stand-alone basis, the company has posted a net profit of Rs 302.06 crore for FY07 as compared to Rs 182.72 crore for FY06. Total income for the year has increased to Rs 2157.58 crore from Rs 1678.61 crore for FY06.The board of the company at its meeting held today, inter alia, has recommended dividend @ 50% i.e. Rs 5 per equity share, for FY07.It has also approved the formation of a wholly-owned subsidiary in Switzerland by making an initial investment of up to Swiss Francs 1,00,000 ($ 83,000). The said subsidiary would act as a special purpose vehicle (SPV) for routing overseas investments to be made by it.The board further approved the formation of a subsidiary in India with an initial investment of Rs 5 lakh. The subsidiary would undertake manufacture of active pharmaceutical ingredients (API) at a unit to be located in a special economic zone (SEZ).
