Lupin Q3 net profit jumps 43% to Rs 335 cr on strong US sales
The Mumbai-headquartered firm had posted a net profit of Rs 235.1 crore during the same period of previous fiscal.
Consolidated net sales of the company rose by 37.62 per cent to Rs 2,465.9 crore during the third quarter, as against Rs 1,791.7 crore during the same period of 2011- 12 fiscal, Lupin said in a statement.
During the quarter under review, the company's formulation sales in the US and Europe grew by 60 per cent to Rs 1,082.9 crore as against Rs 6,76.3 crore during the corresponding period of previous fiscal.
"We had a record quarter driven by strong operating performance and growth in the US. Importantly, we continue to improve on margins consistently," Lupin Ltd Managing Director Kamal K Sharma said.
The company, which said it is the market leader in 22 products out of the 43 products marketed in the US generics market, launched five new products in the US during the third quarter.
During the quarter, the company's India formulations business grew by 14 per cent posting net revenues of Rs 570.8 crore compared to Rs 501.1 crore during the same period of previous fiscal.
The company said sales in Japan grew by 48 per cent to Rs 365.8 crore during the quarter compared to Rs 246.8 crore in the corresponding
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