Pharma major Lupin Ltd has reported consolidated sales of Rs 4,237 crore in the first quarter of current financial year (Q1 FY22), up 13 per cent from Rs 3,759 crore in the previous quarter (Q4 FY21).
The sales were up 22 per cent from Rs 3,469 crore in Q1 FY21. Profit after tax jumped 18 per cent q-o-q to Rs 548 crore from Rs 464 crore and 406 per cent y-o-y from Rs 108 crore.
The earnings before interest, tax, depreciation and amortisation (EBITDA) stood at Rs 993 crore in Q1 FY22, up 30 per cent q-o-q and 87 per cent y-o-y.
Lupin — the sixth largest company in Indian pharmaceutical market — said its gross profit was buoyed by the USD 50 million received from Boehringer Ingelheim for achieving key milestonesfor its novel MEK inhibitor compound collaboration.
Personnel cost was 18.5 per cent of sales at Rs 784 crore compared to Rs 640 crore in Q4 FY21. Manufacturing and other expenses were 24.3 per cent of sales at Rs 1,031 crore compared to Rs 1,118 crore in Q4 FY21.
Investment in R&D for the quarter was Rs 374 crore or 8.8 per cent of sales.
Managing Director Nilesh Gupta said the company sees substantial room for growth despite a tough operating environment.
“We see meaningful uplift in the second half and remain focused on our journey of expanding margins through driving strong double-digit revenue growth and optimising costs while ensuring the safety of our people and the highest standards of compliance,” he said in a statement.
Lupin’s India formulation sales for Q1 FY22 were Rs 1,636 crore, up 27 per cent as compared to Rs 1,287 crore in Q4 FY21 and up 27 per cent as compared to Rs 1,285 crore in Q1 FY21, accounting for 42 per cent of the global sales.
It has 15 manufacturing sites, seven research centres and more than 20,000 professionals working globally.
The company develops and commercialises a wide range of branded and generic formulations, biotechnology products and active pharma ingredients in over 100 markets in the United States, India, South Africa and across Asia Pacific, Latin America, Europe and Middle East regions.