Lupin Records Minimal Rise In Revenue, PAT At Rs 134.5 Cr In Q2FY23
The Indian pharmaceutical major Lupin declared its earnings for the second quarter on Wednesday recording a minimal rise of 1.3 per cent in its consolidated revenue quarter on quarter at Rs 4,145.5 crores against the company' earnings in Q2FY22 which stood at Rs 4,091.3.
The pharma giant posted a net profit of Rs 134.5 crores in quarter two of the fiscal year 2023 (Q2FY23), compared with a loss of 2,094.9 crores in the corresponding quarter last year.
EBITDA fell by 25.5 per cent quarter on quarter and was recorded at Rs 468 crores for Q2FY23 against Rs 628.5 crores registered in Q2FY22.
The company's EBITDA margin also fell by 430 bps quarter on quarter in Q2FY23 to be registered at 11.4 per cent, compared with a 15.7 per cent margin in Q2FY22.
Lupin's investment in R&D for the quarter was at Rs 3,37.6 crores (8.3 per cent of sales) for Q2 FY2023 as compared to Rs 3,30 crores for Q2 FY2022.
North America sales for Q2 FY2023 were at Rs 13,29.5 crores, up 31.6 per cent compared to Rs 10,10.4 crores in Q1 FY2023 and down 7 per cent as compared to Rs 14,29.1 crores in Q2 FY2022.
Whereas the Indian sales for Q2 FY2023 were at Rs 1,584.1 crore, up 2.6 per cent as compared to Rs 1,543.5 crore in Q2 FY2022 and accounting for 39 per cent of Lupin’s sales.
"We have performed in line with our expectations during the quarter, and are on the path of steady growth in sales and profitability. Our sales growth sequentially was robust as our U.S. business bounced back. Our India business delivered continued growth in line with the market, excluding the impact of loss of exclusivity and certain sales in the diabetes and cardiovascular therapy area," said Nilesh Gupta, Managing Director, Lupin Limited .
Gupta said that the company will be sustaining this positive momentum, driving improvement in sales and margins, and will remain committed to maintain the highest standards of compliance.
