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Saturday, Aug 02, 2003

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Corporate Results - Pharmaceuticals

Lupin net profit up 38 per cent

Our Bureau

Mumbai , Aug. 1

LUPIN Ltd has registered a 38 per cent rise in net profit at Rs 28.06 crore for the quarter ended 30 June 2003 as against Rs 20.28 crore in the corresponding period last year.

Net sales (excluding excise duty) for the quarter increased by 24 per cent to Rs 263.7 crore (Rs 212.8 crore). Total expenditure was higher at Rs 205.90 crore (Rs 165.19 crore).

Interest was at Rs 15.95 crore (Rs 17.12 crore). Provision for tax was higher at Rs 11.20 crore (Rs 6.35 crore).

Total exports rose to Rs 130.6 crore (Rs 92.3 crore), of which, API (active pharmaceutical ingredients) exports to the advanced markets increased by 17 per cent to Rs 38.9 crore (Rs 33.3 crore). Revenues from the domestic market were up 10 per cent at Rs 146.3 crore (Rs 133 crore).

The company Lupin introduced Ceff-ER, a once-a-day cephalexin tablet, Novapime (cefepime) in cephalosporins and Glutide (glicliazide), in the anti-diabetes segment, in the domestic market, according to a press release.

The company is setting up a new modern plant at Verna, Goa, for manufacturing non-cephalosporins oral finished dosages and it is expected to be operational by March 2004.

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