Drug major Lupin today reported a 55.12 per cent rise in consolidated net profit to Rs 881.95 crore for the June quarter -- its best ever quarterly performance -- driven by robust growth in India, Japan and the US markets.
The Mumbai-based firm had posted a net profit of Rs 568.55 crore in the corresponding quarter of last fiscal.
Lupin's net sales on consolidated basis were also up 40.01 per cent to Rs 4,313.56 crore during the quarter under review as against Rs 3,080.87 crore in the corresponding quarter of the previous fiscal, the company said in a regulatory filing.
Its expenses were at Rs 3,334.08 crore, up 37.05 per cent, during the quarter as against Rs 2,432.58 crore of the last fiscal.
Lupin Managing Director Nilesh Gupta said: "In keeping with the growth momentum, we continue to execute flawlessly and have delivered our best results to date."
He further added: "This was a record quarter, driven by robust growth across all our key markets - the United States, India and Japan. We remain committed to maintaining our growth trajectory given new product launches and approvals driven by strategic investments in technology and research."
Lupin's US formulation sales increased by 78.9 per cent to USD 322 million (nearly Rs 2,155.64 crore), while sales in Japan were up by 30.9 per cent to Rs 423.2 crore during the quarter.
"Lupin's India formulation sales grew by 5.2 per cent to Rs 931.3 crore during Q1 2016-17 as compared to Rs 884.9 crore during Q1 2015-16, contributing 22 per cent of Lupin's global sales," the company said.
Shares of Lupin were trading 3.11 per cent down at Rs 1,640.05 apiece on BSE.
