Lupin Q3 Results: Profit Soars 38.82% to Rs 858.86 Crore, Revenue Climbs 10.97% Year-on-Year

Lupin Q3 Results: Profit Soars 38.82% to Rs 858.86 Crore, Revenue Climbs 10.97% Year-on-Year

Lupin Ltd reported a profit of Rs 858.86 crore for the third quarter of FY24, marking a 38.82% increase compared to Rs 618.70 crore during the same period in the previous fiscal year. The company’s revenue from operations for the quarter stood at Rs 5,767.71 crore, reflecting a year-on-year growth of 10.97%. In comparison, the revenue for Q3 FY24 was Rs 5,197.41 crore. The company’s EBITDA reached Rs 1,409.60 crore.

Lupin’s employee benefits cost was 17.5% of sales, amounting to Rs 984.40 crore, compared to Rs 889.20 crore in Q3 FY24. Manufacturing and other expenses accounted for 30.2% of sales, totalling Rs 1,695.90 crore.

Management's Comments
Nilesh Gupta, Managing Director of Lupin, commented, “Our third-quarter results reflect our ongoing strength, with sustained growth in both revenue and EBITDA. US revenues, driven by expanding our portfolio of new products, have been key to our growth, along with strong performances from our India and EMEA regions. We are optimistic about maintaining this momentum in the upcoming quarters, supported by growth in sales, operational efficiencies, and strong compliance.”

Stock Movement
Lupin’s shares saw a slight dip of 0.31%, trading at Rs 2,059.95 as of 11:30 am.

Balance Sheet Overview
As of December 31, 2024, Lupin reported an operating working capital of Rs 7,070 crore. The company’s capital expenditure for the quarter amounted to Rs 124.10 crore, with a net debt of Rs 102.70 crore.

R&D Investment
Lupin’s R&D investment for the quarter was Rs 434.40 crore, which represents 7.7% of sales. During the quarter, the company received six Abbreviated New Drug Application (ANDA) approvals from the US FDA. As of December 31, 2024, Lupin has filed 430 ANDAs with the US FDA, of which 334 have been approved. The company now holds 49 First-to-File (FTF) filings, including 17 exclusive FTF opportunities. Additionally, Lupin has filed 156 US Drug Master Files (DMF) as of the same date.

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