Lupin reports 18% increase in Q4 net profit at ₹460 crore
NEW DELHI: Drugmaker Lupin on Thursday reported an 18% increase in its consolidated net profit at ₹460 crore for the fourth quarter ended March 31, 2021, driven by robust sales across domestic and international markets.
The Mumbai-based company had reported a net profit of ₹390 crore in the Januarymarch quarter of 2019-20.
The company’s total income from operations, however, declined to ₹3,783 crore during the fourth quarter, as compared to ₹3,846 crore in the corresponding period of FY20, Lupin Ltd said in a statement.
For the entire 2020-21, the drugmaker posted a consolidated net profit of ₹1,216 crore. The company had reported a net loss of ₹269 crore in 2019-20 financial year.
Total income from operations for the last fiscal stood at ₹15,163 crore, as compared to ₹15,375 crore in 2019-20.
“We are happy that the journey to sustain margin improvement continues, despite a challenging environment. On the back of a strong ramp-up of inline products and meaningful new product launches, we are confident of a solid growth trajectory and continued margin expansion,” Lupin Ltd Managing Director Nilesh Gupta said.
Ensuring the safety of our employees while maintaining business continuity is a key priority at this time, he added.
The company said its board has recommended a dividend of ₹6.5 per equity share of the face value of ₹2 each aggregating to ₹295 crore.
The drug firm noted that its capital expenditure for the fourth quarter stood at ₹140 crore and for the full year (FY21) at ₹628 crore.
Besides, the company’s net debt as on March 31, 2021, stood at ₹663 crore, it added.