Lupin Q1 FY2025 Results: Strong Performance with ₹37,697 Million Gross Profit

On August 06, 2024, Lupin Limited, a leading pharmaceutical company, announced its financial results for the quarter ending June 30, 2024.

Lupin Limited reported a gross profit of ₹37,697 million, up from ₹33,213 million in Q4 FY2024, with a gross margin of 68.4%. Personnel costs amounted to ₹9,710 million, or 17.6% of sales, compared to ₹9,002 million in the previous quarter. Manufacturing and other expenses were ₹15,985 million, representing 29.0% of sales, up from ₹14,901 million in Q4 FY2024.

The profit before tax (PBT) stood at ₹9,930 million, driven by improved performance in Q1 FY2025 and an impairment charge of ₹2,013 million in the previous quarter. The company’s investment in R&D for the quarter was ₹3,500 million, accounting for 6.3% of sales.

Balance Sheet Highlights

Lupin Limited reported operating working capital of ₹61,686 million. The capital expenditure for the quarter was ₹1,117 million. As of June 30, 2024, the company had a net debt of ₹(195) million, resulting in a net debt-equity ratio of 0.00.

Commenting on the results, Mr Nilesh Gupta, Managing Director of Lupin Limited said, “We have had a strong quarter on the back of the momentum we built through FY24, with performance driven by new products, key geographies, and improvement in our operating margin and profitability. We are on track for strong, sustainable growth and margin improvement backed by growth in sales, commercial and operating efficiencies, and a strong compliance story.”

Operational Highlights

In Q1 FY2025, Lupin saw strong growth across regions. North America sales rose 7.4% to ₹20,408 Million, with 6 new ANDA approvals. India sales increased 20.3% to ₹19,259 Million. Growth Markets grew 1.1% to ₹5,151 Million. EMEA sales fell 5.4% to ₹5,031 Million. Global API sales surged 40.3% to ₹3,622 Million. R&D investment was ₹3,500 Million.

About Lupin

Lupin is a global pharmaceutical company based in Mumbai, India. It focuses on innovation and offers a variety of branded and generic medicines, biotech products, and APIs. The company operates in over 100 markets, including the U.S., India, South Africa, Asia Pacific, Latin America, Europe, and the Middle East.

On August 06, 2024, Lupin Ltd’s share price opened at ₹2,020.00, touching the day’s high at ₹2,029.95 at 09:31 AM on the NSE.

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