Lupin Q1 Net Profit Surges 77% to Rs 801 Cr | Business News

New Delhi, Aug 7 (PTI) Drug maker Lupin has reported a 77 per cent increase in consolidated net profit at Rs 801 crore for the first quarter ended June 30, 2024 aided by robust sales across markets.

The Mumbai-based drug maker had reported a net profit of Rs 452 crore in the April-June quarter of the last fiscal year.

The total revenue from operations rose to Rs 5,600 crore for the first quarter, as against Rs 4,814 crore in the June quarter of FY24, Lupin said in a regulatory filing on Tuesday evening.

"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," Lupin Ltd Managing Director Nilesh Gupta said.

He further said: "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." The company said its sales in North America stood at Rs 2,041 crore, up 28 per cent from Rs 1,590 crore in the first quarter of last fiscal.

India sales stood at Rs 1,926 crore in the first quarter, as against Rs 1,638 crore in the June quarter of the last financial year.