New Delhi: Drug major Lupin Tuesday posted 55.11 percent rise in its consolidated net profit at Rs 630.04 crore for the second quarter ended September 30, driven by robust sales in the US, Japan and domestic market.
The Mumbai-based company had posted a net profit of Rs 406.18 crore during the same period of previous fiscal.
Net sales of the company rose to Rs 3,116.81 crore for the second quarter, as against Rs 2,631.46 crore during the same period of previous fiscal, the company said in a statement.
For the half year ended September 30, the company posted a net profit of Rs 1,254.78 crore, against Rs 807.24 crore in the year ago period, an up by 55.44 percent.
Net sales of the company for the half year ended September 30, rose to Rs 6,400.76 crore, as compared to Rs 5,052.12 crore in the same period of previous fiscal.
Commenting on the result, Lupin Ltd Managing Director Nilesh Gupta said: "We have had a great first half driven by strong growth in US, India, Japan and our API business. Our research pipeline is evolving well and we expect significant developments in the dermatology and inhalation space in the quarters to come".
Lupin shares were trading at Rs 1,377.55 apiece on the BSE, down 1.18 percent from its previous close.
The Mumbai-based firm said its US and Europe formulation sales grew by 23 percent to Rs 1,359.2 crore during the second quarter as against Rs 1,108.9 crore during the same period of previous fiscal, contributing 44 percent to overall sales.
The company's US sales increased by 21 percent to USD 202 million during the second quarter, Lupin said.
The company's India formulations business grew by 20 percent, recording net sales of Rs 799 crore during the second quarter as compared to Rs 663.5 crore in the same period of previous fiscal.
The company's sales in Japan grew by 12 percent, clocking net sales of Rs 345.9 crore during the second quarter as compared to Rs 309.3 crore in the same period of previous financial year.
Lupin's active pharmaceutical ingredient (API) business recorded sales of Rs 318.3 crore during the second quarter, up 11 percent, from Rs 286.2 crore during the same period of previous fiscal.
