Lupin Q1 results: Net profit soars 77% YoY to ₹801 crore on strong sales

In the same quarter last year, Lupin reported a net profit of ₹452.3 crore, according to a regulatory filing by the company.

The total revenue from operations rose to ₹5,600 crore for the first quarter, as against ₹4,814 crore in the June quarter of FY24, Lupin said in a regulatory filing on Tuesday evening.

"We have had a strong quarter on the back of the momentum we built through FY24, with performance driven by new products, key geographies, and improvement in our operating margin and profitability," Lupin Managing Director Nilesh Gupta said.

He further said: "We are on track for strong, sustainable growth and margin improvement backed by growth in sales, commercial and operating efficiencies, and a strong compliance story." The company said its sales in North America stood at ₹2,041 crore, up 28% from ₹1,590 crore in the first quarter of last fiscal.

At the operating level, EBITDA increased by 22.9% to ₹1,240.9 crore in the first quarter of this fiscal year, up from ₹856.3 crore in the same period of the last fiscal year.

During the quarter, the company invested ₹350 crore, equivalent to 6.3% of its sales, in research and development. Formulation sales in North America increased by 28.3% year-on-year to ₹2,040.8 crore, while domestic sales grew by 17.5% to ₹1,925.9 crore. Total US sales rose to $227 million, up from $181 million a year ago and $209 million in the previous quarter, according to the company.

Lupin received six ANDA approvals from the US FDA and launched three products in the US during the quarter. The company now has 161 generic products in the US market.

In morning trade, shares of Lupin rose over 5% to ₹2007.30 on the National Stock Exchange.

India sales stood at ₹1,926 crore in the first quarter, as against ₹1,638 crore in the June quarter of the last financial year.

With inputs from PTI.