Lupin Q4 Results | Net profit jumps 52% to ₹359 crore, declares dividend of ₹8

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Drug maker Lupin Ltd on Monday (May 6) reported a 52.4% year-on-year (YoY) jump in net profit at ₹359.4 crore for the fourth quarter that ended March 31, 2024.

In the corresponding quarter, Lupin posted a net profit of ₹235.9 crore, the company said in a regulatory filing. A CNBC-TV18 poll had predicted a profit of ₹498.9 crore for the quarter under review.

The company’s revenue from operations increased 12% to ₹4,960.7 crore as against ₹4,430 crore in the corresponding period of the preceding fiscal. The CNBC-TV18 poll had predicted revenue of ₹5,057.7 crore for the quarter under review.

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At the operating level, EBITDA jumped 72.5% to ₹996.8 crore in the fourth quarter of this fiscal over ₹577.7 crore in the corresponding period in the previous fiscal. The CNBC-TV18 poll had predicted an EBITDA of ₹5,057.7 crore for the quarter under review.

EBITDA margin stood at 20.1% in the reporting quarter as compared to 13% in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation. The poll had predicted a margin of 19.3% for the quarter under review.

Lupin experienced a personnel cost amounting to 18.4% of sales, totalling ₹900.2 crore. This marked a slight increase from the previous quarter, where personnel costs stood at ₹889.2 crore. Manufacturing and other expenses constituted 30.4% of sales, amounting to ₹1490.1 crore in Q4 of FY24. At the same time, this figure represented a decrease from the previous quarter’s ₹1,560.2 crore.

However, the company faced a notable decline in Profit Before Tax (PBT) during the fourth quarter, primarily due to an impairment charge of ₹201.3 crore. Lupin continued to prioritise investment in Research and Development (R&D), allocating ₹425.5 crore, which accounted for 8.7% of sales for the quarter.

Nilesh Gupta, Managing Director of Lupin, said, “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.

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“While FY24 has been a year of resurgence for the company, we look forward to an even stronger FY25 driven by growth across our key geographies and consistent improvement in our margins.”

The board has recommended a dividend 400% i.e. ₹8 per equity share of a face value ₹2 each for the year ended March 31, 2024, subject to approval at the ensuing Annual General Meeting. The total outflow would be ₹364.6 crore.

The results came after the close of the market hours. Shares of Lupin Ltd ended at ₹1,679.75, up by ₹24.50, or 1.48% on the BSE.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow