Sales for the third quarter grew by 12.5 per cent to ₹ 43,779 million
Lupin reported its financial performance for the quarter ended December 31, 2018. These results were taken on record by the Board of Directors at a recently held meeting in Mumbai.
Lupin’s India formulation sales for Q3 FY2019 decreased by 1.1 per cent to ₹ 11,902 million as compared to ₹ 12,032 million in Q2 FY2019 and increased by 11.4 per cent as compared to ₹ 10,688 million in Q3 FY2018. India formulation sales for 9M FY2019 grew by 13.5 per cemt to ₹ 35,857 million as compared to ₹ 31,606 million during 9M FY2018.
Sales for the quarter grew by 12.5 per cent to ₹ 43,779 million compared to ₹ 38,909 million in Q2 FY2019. Sales for the quarter excluding NCE licensing income grew by 7.1 per cent to ₹ 41,676 m. as compared to Q2 FY2019. Sales for the quarter increased by 12.2 per cent compared to ₹ 39,004 million in Q3 FY2018.
In 9M FY2019, sales grew by 4 per cent to ₹ 120,434 million compared to ₹ 115,814 million in 9M FY2018. Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) for the quarter grew by 2 per cent to ₹ 7,960 million, (18.2 per cent of sales) compared to ₹ 7,803 million, (20.1 per cent of sales) in Q2 FY2019. EBITDA for the quarter increased by 11 per cent compared to ₹ 7,168 million in Q3 FY2018.
EBITDA in 9M FY2019 was ₹ 22,875 million compared to ₹ 24,442 million in 9M FY2018.
Net profit before exceptional items for the quarter was ₹ 1,905 million compared to ₹ 2,660 million in Q2 FY2019 and ₹ 2,217 million in Q3 FY2018. Net loss after exceptional items for the quarter was ₹ 1,517 million.
Nilesh Gupta, MD, Lupin said, “After a tough H1, we are now starting to see growth in the US. The growth momentum in the US will continue into the next quarter as we are on track with important launches like Levothyroxine and Ranolazine. Monetisation of our innovative R&D molecule was an important milestone achieved during the quarter. We are also on track to deliver on our cost optimisation efforts and expect meaningful benefit next fiscal onwards.”