Boosted by robust sales mainly in the US and Europe, Lupin today posted 33.4 per cent jump in consolidated net profit to Rs 280.4 crore in the quarter ended June 30, 2012 as against Rs 210.1 crore during the same period of previous fiscal.

Formulation sales for the US and Europe grew by 60 per cent to Rs 841.3 crore during Q1 FY13, as against Rs 524.7 crore in Q1 of last year.

“We had a robust quarter. Strong operating performance aided by product launches and exceptionally strong growth across the US, India, Japan and South Africa have helped us deliver yet another quarter of sustained growth,” Lupin Managing Director Kamal K Sharma told shareholders at the AGM.

The company has filed 3 ANDAs during the quarter.

Cumulative ANDA filings with the US FDA now stand at 176 with the company having received 65 approvals to date. The company filed 5 MAAs with European regulatory authorities during the quarter, Mr Sharma said.

The Indian market accounted for 28 per cent of the company’s overall revenues for the quarter. The company’s India formulations business grew by 25 per cent recording revenues of Rs 621.2 crore during Q1 FY 2012-13, as compared to Rs 496.9 crore in Q1 FY 2011-12.

Lupin’s Japanese subsidiary, Kyowa Pharmaceuticals grew by 100 per cent clocking net sales of Rs 332.9 crore during the quarter against Rs 166.6 crore in Q1 FY 2011-12.

Lupin’s South African business, Pharma Dynamics also clocked 13 per cent jump in revenues at Rs 66.3 crore during Q1 FY 2012-13.

Lupin said that its net sales for the first quarter ended June 30, 2012 rose to Rs 2,219.2 crore as compared to Rs 1,543.2 crore during the same period last year.

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