Profits at Lupin Laboratories have dipped by 2.4 per cent at Rs 18.47 crore for the quarter ended December 31, 2001 against Rs 18.93 crore during the same quarter of previous year. However, the company recorded higher sales at Rs 53.28 crore, up 24.3 per cent compared with Rs 42.86 crore in the same quarter ended December 31, 2000. The company has declared an interim dividend of 25 per cent for the year.
In a press release, the company has said that it has provide for abnormally high deferred tax because of the capitalisation during the quarter of the research and development centre at Pune. The company has provided Rs 6.48 crore towards deferred tax.
During the third quarter of 2001-02, the profit before deferred tax stood at Rs 24.95 crore, up 31.8 per cent from Rs 18.93 crore in the same quarter of previous year.
On the Bombay Stock Exchange, the scrip closed at Rs 115.20 after touching a high of Rs 121 during the day.
Sales of formulations have increased by 5.3 per cent for the same period to Rs 345.11 crore against Rs 327.82 crore, while the gross sales of bulk decreased to 365.78 crore against Rs 373.31 crore from the same period last year. Sales of generics for the nine months was at Rs 63.14 crore.
