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Lupin Q4 results: Net profit jumps 52% to Rs 359 crore, revenue up 13%

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Lupin Q4: Revenue came in at Rs 4895.11 crore, up 13 percent from the year-ago quarter of Rs 4,330.3 crore.

May 06, 2024 / 09:08 PM IST

Lupin is an integrated pharmaceutical company with a presence across research, manufacturing and marketing of formulations and APIs.

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Mumbai-based pharma company Lupin Ltd reported a 52 percent year-on-year rise in consolidated net profit at Rs 359.43 crore for the January-March quarter of FY24.

The company had reported a profit of Rs 235.96 crore in the same period last year.

Revenue came in at Rs 4895.11 crore, up 13 percent from the year-ago quarter of Rs 4,330.3 crore.

The company's earnings before interest, taxes, depreciation and amortization (EBITDA) came in at Rs 1026.1 crore, up 66 percent from Rs 615 crore. The EBITDA margin came in at 14.2 percent, as against 11.5 percent in the year-ago period.

"We continue to move forward with sustainable and profitable growth and delivered another strong set of numbers in Q4. Our U.S. sales remain healthy driven by inhalation products, and our India formulation business is delivering ahead of market," said Nilesh Gupta, Managing Director, Lupin Limited in a press statement.

"While FY24 has been a year of resurgence for the company, we look forward to an even stronger FY25 driven by growth across our key geographies and consistent improvement in our margins," he added.

Profit Before Tax was lower in Q4 FY2024 on account of impairment charge of Rs 201.3 crore. Investment in R&D for the quarter was Rs 425.5 crore (8.7 percent of sales).

US sales in Q4 FY2024 sales were Rs 1900,6 crore, up 0.6 percent compared to Rs 1888.5 crore in Q3 FY2024; up 22.6 percent compared to Rs 1550.3 crore in Q4 FY2023; accounting for 39 percent of Lupin's global sales.

Q4 FY2024 sales in US were $209 million compared to $212 million in Q3 FY2024 and $175 million in Q4 FY2023. The Company filed 1 ANDA in the quarter, received 12 ANDA approvals from the U.S. FDA, and launched 6 products in the quarter in the U.S. The Company now has 161 generic products in the U.S.

Q4 FY2024 sales in India were Rs 1601.5 crore, down 7.2 percent compared to Rs 1725.1 crore in Q3 FY2024; up 8.3 percent compared to Rs 1478.6 crore in Q4 FY2023; accounting for 33 percent of Lupin's global sales.

Global API sales in Q4 FY2024 were Rs 258.1 crore, down 7.1 percent compared to Rs 277.9 million in Q3 FY2024; down 20 percent compared to Rs 322.6 crore in Q4 FY2023; accounting for 5 percent of Lupin's global sales.

Lupin is an integrated pharmaceutical company with a presence across research, manufacturing and marketing of formulations and APIs. It is the third largest pharmaceutical player in the US by prescriptions and the seventh largest in IPM, IQVIA December data shows.

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