Lupin
Lupin has reported its performance for the third quarter that ended on December 31, 2012. The company has reported a net sales grew by 37.6 per cent to Rs 24,659 million during Q3 FY 2012-13, up from Rs 17,917 million in Q3 FY 2011-12. Earnings before interest, tax, depreciation and amortisation (EBITDA) grew by 67.6 per cent to Rs 6,314 million during Q3 FY 2012-13, up from Rs 3,768 million in Q3 FY 2011-12. Profit before tax grew by 78.6 per cent to Rs 5,550 million during Q3 FY 2012-13, up from Rs 3,107 million. Net profits grew by 42.6 per cent to Rs 3,352 million during Q3 FY 2012-13, up from Rs 2,351 million. Commenting on the results, Dr Kamal K Sharma, Managing Director, Lupin, said, “We had a record quarter driven by strong operating performance and growth in the US. Importantly, we continue to improve on margins consistently.”
Glenmark
Glenmark Pharma has posted its Q3FY13 results where the company’s total income increased 34 per cent Y-o-Y to Rs 13.8 billion. Growth in the domestic business and Rest of the World (RoW) formulations sales were in positive mode. The company reported an Earnings before interest, taxes, depreciation and amortisation (EBITDA) margin of 22.9 per cent. EBITDA grew by 54.4 per cent Y-o-Y aided by favourable product mix and licensing income. Core EBITDA margin (excluding licensing income) was a robust 20 per cent.
Adjusted Profit After Tax grew slower than EBITDA due to lower other income and higher depreciation. Excluding licensing income, Glenmark’s speciality business posted a robust 31.2 per cent Y-o-Y growth as the company made excellent gains in India and RoW. The India business grew by a 29.9 per cent vs industry growth of 9.1 per cent (as per AIOCD AWACS) during the quarter.
Indoco Remedies
The un-audited results of Indoco Remedies for the third quarter of the financial year 2012-13 were announced by the Board of Directors at their recently held meeting held in Mumbai. During the third quarter of FY 2012-13 the company recorded revenues of Rs 1502.6 million as compared to Rs 1417.5 million over the same quarter last year. The company’s domestic formulation business registered a growth of 11 per cent as against Indian Pharma Market (IPM) growth of 9.1 per cent during the quarter.
Commenting on the performance, Suresh G Kare, Executive Chairman, Indoco Remedies said, “The Indian pharma market witnessed some slowdown during the last quarter but is expected to rebound back in the coming quarters. Indoco’s domestic business has performed better than industry and our strategies have paved well for growth in the coming quarters as well. On the international business front, the growth during the quarter was marginal due to slowdown in emerging market tender business but we envisage to close the year with better numbers.”
Jubilant Life Sciences
The Board of Jubilant Life Sciences approved the financial results for the third quarter of the financial year 2012-13. In Q3 FY2013, income from operations was at Rs 1,306 crore growing over 19 per cent YoY. This was led by volume increase of 23 per cent. The earnings before interest, taxes, depreciation, and amortisation (EBITDA) stood at Rs 263 crore, up by 24 per cent YoY with EBITDA margins at 20.2 per cent, compared to 19.4 per cent last year.
The profit before exceptional items, tax and minority interest stood at Rs 146 crore, higher by 44 per cent YoY. The reported Profit after Tax grew 134 per cent at Rs 27 crore after considering the Rs 71 crore impact of exceptional items. Normalised PAT was higher at Rs 98 crore, up 27 per cent.
Shyam S Bhartia, Chairman and Managing Director and Hari S Bhartia, Co-Chairman and Managing Director, Jubilant Life Sciences said:, “Our strategy of enhancing presence in identified international markets is delivering results with 28 per cent growth and high 73 per cent contribution to revenue mix. We believe this momentum is sustainable due to strong product pipeline and order book position along with leveraging benefits from vertical integration.”
Sun Pharma
Sun Pharmaceutical Industries has reported financials for the third quarter ending December 31, 2012. Net sales/ income from operations were reported at Rs 2852 crores, a growth of 33 per cent over same quarter last year. Branded generic sales in India was at Rs 788 crores, up by 13 per cent over Q3 last year. US finished dosage sales was at $276 million grew by 32 per cent (in $ terms) over Q3 last year. The international formulation sales at $73 million grew by 31 per cent (in $ terms) over same quarter last year. EBITDA was reported at Rs 1261 crores seeing a 31 per cent growth compared to Q3 last year. The net profit was at Rs 881 crores which witnessed a growth of 32 per cent over Q3 last year.
Dilip Shanghvi, Managing Director, Sun Pharmaceutical Industries said, “All our businesses continue to perform in-line with our expectations. The recent approval of our generic Doxorubicin HCl Liposomal Injection in the US reflects our technological strengths in developing complex products. The acquisition of DUSA and URL’s generic business will further strengthen our presence in the US. Overall, we shall strive to remain focused on execution and building a business with consistent performance.”
EP News Bureau – Mumbai