Lupin Q4 profit soars to Rs 137 cr
Drugmaker Lupin on Wednesday reported close to three-fold growth in net profit to Rs 137.08 crore for the three months ended March 31, 2007, compared to Rs 50.19 crore in the year-ago period.
By PTI |
MUMBAI: Drugmaker Lupin on Wednesday reported close to three-fold growth in net profit to Rs 137.08 crore for the three months ended March 31, 2007, compared to Rs 50.19 crore in the year-ago period.
Total income (net of excise) of the pharmaceutical firm rose nearly 40 per cent to Rs 646.40 crore for the fourth quarter, against Rs 463.02 crore in the same period a year ago, Lupin informed the Bombay Stock Exchange.
The city-headquartered company's Board of Directors has recommended 50 per cent dividend at Rs 5 per equity share at a face value of Rs 10 each, for the year ended March 31, 2007.
For FY'07, Lupin recorded 65.3 per cent growth in terms of net profit which stood at Rs 302.06 crore compared to Rs 182.72 crore in the previous fiscal.
Total income (net of excise) of Lupin has also grown by 28.53 per cent to Rs 2,157.58 crore in the 12 months ended March 31, 2007 against Rs 1,678.61 crore last year.
Meanwhile, in a move that would enhance its presence in the active pharmaceutical ingredients (API) market, the Board of Directors of Lupin has given its nod to set up a local subsidiary for an outlay of Rs 5 lakh.
The proposed subsidiary would manufacture API at a unit, which would be located in a Special Economic Zone, Lupin said.
The board has also approved the formation of a wholly-owned subsidiary in Switzerland at an initial investment of up to Swiss Francs 100,000 (83,000 dollars).
The said subsidiary would act as a vehicle to route overseas investments that the company would make, Lupin added.
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