Marginal rise in Lupin’s Q2 profit

Mumbai, Oct 27 (IANS) Pharma major Lupin Ltd on Thursday said it saw a rise of 7.43 percent in its standalone net profit for the quarter ended September 30, at Rs.493.80 crore as against Rs.459.62 crore in the same period last year.

According to ae statement of standalone unaudited financial results posted on the Bombay Stock Exchange (BSE), Lupin’s total operating income rose from Rs.2,257.29 crore to Rs.2,526.11 crore in the quarter, while total expenses also increased to Rs.1,929.82 crore from Rs.1,743.24 crore.

However, on a consolidated basis, the pharma company’s net profit plunged by 35.10 percent in the quarter under review, at Rs.408.84 crore in this quarter as against Rs.630.04 crore in the same quarter last year.

Lupin’s total income from operations on a consolidated basis increased to Rs.3,321.26 crore as against Rs.3,173.40 crore posted in the last quarter, and total expenses rose to Rs.2,755.96 crore compared to Rs.2,449.54 crore in the last quarter.

“Slowdown in approvals in the US and a lack of material launches continued to dampen growth. We continue to invest in research and remain upbeat on the pace of approvals and launches to pick up by the fourth quarter,” said MD Nilesh Gupta.

Lupin earned revenue of Rs.1,065.83 crore within India in this quarter and Rs.2,255.43 crore outside India.

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