Financial Daily from THE HINDU group of publications
Wednesday, Jan 21, 2004
Financial Daily from THE HINDU group of publications Wednesday, Jan 21, 2004 |
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Corporate Results
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Pharmaceuticals Lupin Q3 net up 77 pc on higher sales Our Bureau
Mumbai , Jan. 20 LUPIN Ltd has clocked a 77 per cent growth in net profit for the quarter ended December 31, 2003. The company registered a net profit of Rs 40 crore, compared with Rs 22 crore in the corresponding period last year. Net sales for the period under review stood at Rs 263 crore, a growth of 10.2 per cent, Lupin said in a communiqué issued here on Tuesday. Export revenues increased by 28 per cent to Rs 122 crore (Rs 95 crore) and represented 47 per cent of the total revenues. Export revenues grew on the strength of the Active Pharmaceutical Ingredients (API) business to advanced markets. Exports to the advanced markets increased by 65 per cent to Rs 33 crore (Rs 20 crore) in the third quarter this year. Finished dosage exports in Q3 witnessed a four-fold increase at Rs 23 crore (Rs 5.9 crore). For the nine-month period ended December 31, 2003, Lupin recorded a sales growth of 24 per cent at Rs 872 crore (Rs 701 crore). Net profit after extraordinary expenses stood at Rs 69 crore. The third quarter saw Lupin repay substantial portion of its debt and this has resulted in the debt-equity ratio improving to 0.85:1, the company said.
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