 "Lupin FY14 net profit up 40% at Rs 1,836 cr")
Pharma major Lupin Ltd has posted a growth of 40% in its net profit for FY13-14 at Rs 1,836 crore, against Rs 1314 crore for FY 2012-13, on strong growth in key markets like the US, Europe and South Africa. Net sales for the year grew by 17.2% to Rs 11,087 crore during FY 2013-14, up from Rs 9,462 crore in FY 2012-13.
US and Europe formulation sales (including IP) grew by 29% to Rs 5,180 crore during FY 2013-14, as against Rs 4005 crore in FY 2012-13, contributing 47% to overall sales. US brands business contributed 10% of total US sales whereas the generics business was the balance 90% during FY 2013-14.
Nilesh Gupta, Managing Director, Lupin Limited, said "We have had another remarkable year fuelled by strong growth in key markets like the US, Europe, South Africa and in our API business. Importantly, we were able to improve operational efficiencies substantially. The year also marked our entry into high growth markets like Mexico and acquiring technology research capabilities that would help us address niche segments like Complex Injectables and Inhalation. "
For the quarter ended in April, net profit grew by 35.5% at Rs 553 crore, up from Rs 408 crore in Q4 FY 2012-13.
The Indian market contributed 22% of the company's overall revenues for FY 2013-14. The India formulations business grew by 5% recording revenues of Rs 24,80 crore for FY 2013-14 as compared to Rs 23,64 crore for FY 2012-13.