Lupin reports 22 pc increase in revenue

Mumbai, May 9 (UNI) Lupin Limited today reported a 22 per cent rise in revenue for the year ended March 2007.

Revenue grew from Rs 16,610 million in 2005-2006 to Rs 20,289 million in 2006-2007. Net profit for the year increased by 65 per cent to Rs 3,021 million (Rs 1,827 million) and export revenues also increased by 24 per cent (Rs 9,603 million).

Of these, formulation exports to advanced markets constituted 35 per cent at Rs 3,318 million. Revenue from domestic markets were up at Rs 10,686 million (Rs 8,896 million), an increase of 20 per cent.

Earnings before Interest, Taxation, Depreciation and Authorisation (EBITDA) was Rs 4,802 million (Rs 3,009 million), a rise of 60 per cent.

For the quarter ended March 31, 2007, the sales revenue were up by 22 per cent to Rs 5,303 million (Rs 4,344 million). Formulation exports were up by 59 per cent at Rs 1719 million. Net profit increased by 173 per cent to Rs 1371 million as against Rs 502 million in the previous year.

During the quarter, the company had incurred higher expenditure on R&D at Rs 405 million, being 7.6 per cent of gross sales.

UNI