Thu, 09 Jul 2020

Mumbai (Maharashtra) [India], May 29 (ANI): Pharma major Lupin Ltd has reported 34.5 per cent rise in its consolidated net profit to Rs 389.6 crore for the January to March quarter (Q4 FY20) as compared to Rs 289.5 crore in the corresponding period of previous fiscal.

This was on account of robust sales in the domestic market and lower tax expenses. However, for the entire fiscal year 2019-20, the company posted a net loss of Rs 269.4 crore against a net profit of Rs 606.5 crore in the previous fiscal.

Consolidated income from operations in Q4 stood at Rs 3,791 crore as compared to Rs 3,807 crore for the same period year ago. For FY20, the company's income from operations totalled Rs 15,143 crore as against Rs 14,318 crore for the year ago fiscal.

Lupin's sales in the Indian market rose by 13.3 per cent to Rs 1,192 crore in Q4 while that in the North American market declined by 9.3 per cent to Rs 1,579 crore. Asia Pacific sales were also down by 15.5 per cent at Rs 144.7 crore.

"We closed the year with strong growth across all our key markets, and significant strengthening of our profitability and balance sheet," said Managing Director Nilesh Gupta.

"We have had strong momentum in our two major markets, the United States and India, and on compliance across our facilities. Importantly, in the current times, we have been able to ensure business continuity while safeguarding the health and safety of our employees," he said in a statement.

Lupin is the sixth-largest company in the Indian pharmaceutical market. It has 15 manufacturing sites, seven research centres and more than 20,000 professionals working globally. (ANI)

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