Business IdeasLupin's consistent growth continues
Higher margins and increased sales across regions helped Mumbai-based drug maker Lupin Ltd register 38 per cent growth in its consolidated net profit for the quarter ended December, to Rs 160.6 crore against Rs 116.5 crore in the corresponding quarter of the previous year.
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Net sales grew 29 per cent to Rs 1,270.8 crore for the reporting quarter from Rs 983.7 crore of the corresponding period last year. The company has been showing consistent growth in its revenues for the last 15 quarters.
“We have created a strong foundation over the past few years through significant investments in research and commercial infrastructure…the company today remains one of the fastest growing players in the markets of US, Japan, South Africa and India,” said Kamal K Sharma, managing director.
Sales revenue from US and Europe grew 44 per cent to Rs 493.7 crore from Rs 343.6 crore during the comparable quarter the previous year. Indian business, which was 27 per cent of overall revenue, grew 21 per cent to Rs 344.6 crore as compared to Rs 283.8 crore for the third quarter of 2008-09.