Drug major Lupin has posted a 17.5 per cent increase in its net profit at Rs 23.70 crore for the second quarter ended September 30 against Rs 20.16 crore in the corresponding period last year.
Its turnover for the second quarter stood at Rs 242. 16 crore, up 4.8 per cent compared with Rs 230.96 during the same period last fiscal.
The company's operating profit for the quarter jumped 12.7 per cent to Rs 46.69 crore from Rs 41.42 crore for the same period in the previous year.
Staff cost shot up to Rs 15.65 crore from Rs 1.03 crore, according to a company release. The interest outgo of the company increased by more than four times at Rs 14.93 crore against Rs 3.10 crore.
The company's direct expenses on research increased by 60 per cent over the same period last year from 3.49 crore to 5.59 crore. Other income was also up at Rs 1.89 crore from Rs 1.11 crore during the second quarter last year.
The operating margin before R&D expenditure improved from 19.4 per cent to 21.6 per cent. The operating profit before R&D expenditure stood at 52.27 crore, up 16 per cent from 44.91 crore during the same period last year.
