Lincoln Pharma reports 57.85 per cent rise in standalone net profit at Rs 23.74 crore in Q2 FY23

Lincoln Pharma has reported net profit for the quarter ending 30th September, 2022 at Rs 23.74 crore as against net profit of Rs 15.04 crore in Q1 FY23, growth of 57.85 per cent. The total income from operation for the quarter ending September 2022 reported at Rs 146.30 crore, higher by 12.54 per cent over Q1 FY23 total income from operation of Rs 130 crore, according to a company statement.

Further, the statement mentioned that the EBITDA for the quarter ending September 2022 was reported at Rs 34.59 crore as compared to Rs 23.41 crore in Q1 FY23 showing growth of 47.76 per cent. The EPS was reported at Rs 11.84 per share for Q2FY23 as compared to Rs 7.49 in the Q1 FY23 showing growth of 58.08 per cent. Shareholders approved a dividend of Rs 1.50 per share for the FY 21-22 at the 28th AGM held on 30th September, 2022.

Commenting on the results and performance, Mahendra Patel, Managing Director, Lincoln Pharma, said in the statement, “Company has delivered a robust operational and financial performance during the quarter and confident to improve our growth numbers going forward. Recently, company has also received an approval from Australia’s medicines and medical devices regulator – Therapeutic Goods Administration (TGA) for its Khatraj facility. TGA and EU GMP approvals will further strengthen company’s presence in the export market. Strategic growth initiatives, product and geographical expansion, operational efficiency are likely to maximise value for all stakeholders in the near-to-medium term.”

In addition, the statement said that the company reported net profit of Rs 38.72 crore for the H1FY23 ending September 2022. The total income from operation for the half year ending September 2022 reported at Rs 276.26 crore, EBITDA for the half year ending September 2022 was reported at Rs 58 and EPS was at Rs 19.33 per share.

Exports for Q2 FY23 was reported at Rs 73.58 crore. Export business of the company has shown remarkable growth in the last few years and had increased to 65 per cent of total sales in FY21 from 11 per cent of total sales in FY13. The company currently exports to over 60 countries including east and west Africa, Central and Latin America and Southeast Asia. It looks to enter the EU markets during the current financial year, the statement added.

Over the last five years, Lincoln Pharma has delivered a robust 30 per cent CAGR in profits and higher single-digit growth in sales, the statement concluded.