Lupin net up 32 pc at Rs 408.2 cr for FY 08

Mumbai, May 14 (UNI) Pharma major Lupin Ltd has posted 32 per cent hike in its net profit at Rs Rs 408.2 crore for the year ended March 2008 as compared Rs 308.6 crore during the same period last year.

Its total income surged 34 per cent to Rs 2,773 crore for the fiscal year March 2007-08 as against Rs 2,071.7 crore for the previous financial year.

Lupin chairman Dr D B Gupta told mediapersons here today that ''The company would invest Rs 300 crore for expansion and acquisition programme for the current year. Export revenues were Rs 1,529.2 crore (a rise of 52 per cent), formulation exports to advanced markets constituted 59 per cent at Rs 903.8 crore. Revenues from domestic markets were up at Rs 1,243.7 crore for FY 2007-08 against Rs 1,068.5 crore in the previous year, an increase of 16 per cent. During the year, the company incurred R&D expenditure of Rs 154.6 crore from six per cent of gross sales.'' He further said ''The company has declared a dividend higher at 100 per cent, including 50 per cent special dividend, for fiscal year 2007-08 as compared to 50 per cent last year.

Lupin Pharma Inc chairman Vinita Gupta said ''The company's US subsidiary reported a stellar performance, recording sales of Rs 720.5 million, refelcting a growth of 103 per cent. Lupin's generic and brand businesses reported exponential growth of above 30 per cent during the financial year 2007-08.

Lupin Managing Director Dr Kamal Sharma informed that in UK, the company launched 'Lisinopril', its first product under its direct market segment in December 2007. In France, it launched 'Cefpodoxime Proxetil' tablets, which were marketed through arrangement with partners and garnered a marketshare of over 50 per cent. In Japan, the company's most significant achievement during the year was the acquisition of Kyowa Pharma Industry Co Ltd. In Australia, Lupin acquired the marketshare of 87.5 per cent through its subsidiary.

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