Latest News | Lupin Q4 Net Profit Rises 52 Pc at Rs 359 Cr; Revenue at Rs 4,961 Cr
Get latest articles and stories on Latest News at LatestLY. Drug firm Lupin on Monday posted a 52 per cent increase in consolidated net profit to Rs 359 crore in the March quarter.
New Delhi, May 6 (PTI) Drug firm Lupin on Monday posted a 52 per cent increase in consolidated net profit to Rs 359 crore in the March quarter.
The Mumbai-based drug maker reported a net profit of Rs 236 crore in the January-March quarter of the 2022-23 fiscal year.
Total revenue from operations rose to Rs 4,961 crore in the period under review as compared with Rs 4,430 crore in the same period last fiscal, Lupin said in a regulatory filing.
For the year ended March 31, 2024, the company reported a net profit of Rs 1,914 crore while the same stood at Rs 430 crore in the same quarter of FY23.
Revenue from operations rose to Rs 20,011 crore in the last fiscal as against Rs 16,642 crore in the 2022-23 fiscal.
"We continue to move forward with sustainable and profitable growth and delivered another strong set of numbers in Q4. Our US sales remain healthy driven by inhalation products, and our India formulation business is delivering ahead of the market," Lupin Managing Director Nilesh Gupta said.
While FY24 has been a year of resurgence for the company, the drugmaker looks forward to an even stronger FY25 driven by growth across key geographies and consistent improvement in margins, he added.
The company said its board approved a final dividend of Rs 8 per share of the face value of Rs 2 each for the year ended March 31, 2024.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)