Companies

Lupin Q4 net rises 18% at ₹460 cr

PTI New Delhi | Updated on May 13, 2021

FY21 net profit at ₹1,216 crore, compared to a net loss of ₹269 crore in the previous year

Drug maker Lupin on Thursday reported an 18 per cent increase in consolidated net profit at ₹460 crore for the fourth quarter ended March 31, 2021, driven by robust sales across domestic and international markets.

The Mumbai-based company had reported a net profit of ₹390 crore in the January-March quarter of 2019-20.

Also read: Lilly signs agreements with Cipla, Lupin and Sun Pharma for Baricitinib

The company’s total income from operations however, declined to ₹3,783 crore during the fourth quarter, compared to ₹3,846 crore in the corresponding period of FY20, Lupin said in a statement.

For the full fiscal 2020-21, the drug maker posted a consolidated net profit of ₹1,216 crore. The company had reported a net loss of ₹269 crore in FY2019-20.

Total income from operations for the last fiscal stood at ₹15,163 crore, compared to ₹15,375 crore in 2019-20.

“We are happy that the journey to sustain margin improvement continues, despite a challenging environment. On the back of a strong ramp-up of inline products and meaningful new product launches, we are confident of a solid growth trajectory and continued margin expansion,” Lupin Ltd Managing Director Nilesh Gupta said.

Ensuring the safety of our employees while maintaining business continuity is a key priority at this time, he added.

The company said its board has recommended a dividend of ₹6.5 per equity share of face value ₹2 each aggregating to ₹295 crore.

The drug firm noted that its capital expenditure for the fourth quarter stood at ₹140 crore and for the full year (FY21) at ₹628 crore.

Besides, the company’s net debt as on March 31, 2021 stood at ₹663 crore, it added.

Published on May 13, 2021

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