Lupin reported 46% rise in consolidated net profit to Rs 756 million for the second quarter ended Sep. 30, 2007 compared with Rs 519 million in the same quarter, last fiscal.             

Revenues rose 35% to Rs 6,756 million for the quarter ended Sep. 30, 2007. Earnings before Interest, tax, depreciation and amortization (EBITDA) stood at Rs 1,314 million as against Rs 934 million, a rise of 41%.

Total export revenues stood at Rs 3,299 million, a rise of 59%. Of these, formulation exports to advanced markets constituted 48% at Rs 1,570 million. Formulation revenues from domestic market were up at Rs 2,602 million as against Rs 2,131 million, an increase of  22%.
 
Highlights of the quarter

Acquisitions

The company acquired pharmaceutical business of Rubamin.

Advanced markets

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  Total formulation revenues from the advanced markets (North America and Europe) were at Rs 1,570 million compared with Rs 694 million, a  growth of 2.26 times.
  
  
  
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  Lisinopril tablets maintained US market leadership with 34% market share.
  
  
  
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  Suprax sales stood at USD 5.9 million (USD 3.82 million).
  
  
  
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  Launched Cefpodoxime Proxetil tabs in France.

Developing Markets

API revenues from the developing markets (including India) were 31% higher at Rs 2,115 million.

Finished dosage revenues from developing markets (including India) grew 21% to Rs 2,838 million.

Finished dosage from domestic market grew 22% to Rs 2,602 million.

Research & Development

Two ANDAs and three MAAs approved during the quarter.

R&D expenditure during the quarter was at Rs 315 million, representing 4.8% of revenues.

Shares of the company were last trading up Rs 29, or 4.91%, at Rs 619.90. The total volume of shares traded at the BSE was 68,419. (01.00 p.m, Wednesday)