(RTTNews) - Thursday, Lupin Ltd., manufacturer of drugs that combat tuberculosis, bacterial infections and cardiovascular diseases, announced financial results for the second-quarter, reporting higher consolidated net profit, backed by higher revenues.

Consolidated Results

The Mumbai-based company posted third-quarter consolidated net profit of Rs.160.30 crore, 39% higher than Rs.115.62 crore in the second-quarter of 2008. On a per share basis, earnings for the quarter rose 34% to Rs.18.57 from Rs.13.83 in the preceding year quarter.

During the quarter, consolidated net revenue was up 23% at Rs.1,114.69 crore from Rs.908.37 crore in the corresponding quarter a year-ago, while other operating income totaled to Rs.51.06 crore, compared with Rs.25.94 crore in the prior year quarter.

During the quarter, international market revenues at Rs.418.65 crore, while revenue from domestic market amounted to Rs.747.10 crore.

Research and development expenses for the quarter amounted to Rs.82.17 crore, up 36% from Rs.60.44 crore in the previous year quarter.
For the first six months, Lupin's consolidated net profit grew 8% to Rs.300.41 crore from Rs.277.66 crore in the corresponding period in 2008. Total revenue, including other operating income, increased 25% to Rs.2,266.29 crore from Rs.1,814.27 crore for the six-month period in 2008.

Stand-alone Results

For the quarter, the company's second-quarter stand-alone net profit was Rs.98.37 crore or Rs.11.39 per share from Rs.131.94 crore or Rs.15.79 per share in the prior year quarter. Net profit and earnings per share declined 25% and 28% respectively.

Total revenue, including other operating income, rose 9% to Rs.844.18 crore from Rs.771.47 crore in the corresponding quarter a year-ago.

For Apr-Sept 2009 period, Lupin's stand-alone net profit rose 16% to Rs.277.95 crore from Rs.240.46 crore in the corresponding period in 2008. Total revenue, including other operating income, grew 17% to Rs.1,762.82 crore from Rs.1,500.42 crore for Apr-Sept 2008 period.

Managing Director, Kamal Sharma, said, "Backed by 14 quarters of steady and consistent performance, we continued to witness strong growth. Lupin today, has the unique distinction of being amongst the fastest growing Generic players in the US, Japan and South Africa and we also continue to garner larger market shares in these markets. This has been a landmark quarter for Lupin, where we successfully out-licensed a novel drug delivery platform. We also further strengthened our brand business in the US with the acquisition of Antara from Oscient. Going forward, we continue firing on all cylinders, consolidating on the gains made over the past three years to create a foundation to scale even higher orbits of growth.

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