Lupin reported its financial performance for the quarter ending June 30, 2021. In Q1 FY2022, the gross profit was registered at Rs 27,094 million compared to Rs 24,417 million in Q4 FY2021, with a gross profit margin of 63.9 per cent. The gross profit was buoyed by the $50 million received from Boehringer Ingelheim for achieving key milestones for its novel MEK inhibitor compound collaboration. EBITDA was registered at Rs 9,926 million and profit after tax was registered at Rs 5,480 million.

Personnel cost was 18.5 per cent of sales at Rs 7,837 million compared to Rs 6,402 million in Q4 FY2021. Manufacturing and other expenses were at 24.3 per cent of sales at Rs 10,309 million compared to Rs 11,178 million in Q4 FY2021. Investment in R&D for the quarter was at Rs 3,737 million (8.8 per cent of sales).   

The operating working capital was at Rs 59,615 million as of June 30, 2021. Capital expenditure for the quarter was Rs 1,057 million, net debt as of June 30, 2021, stands at Rs (-)3,453 million. Net debt-equity for the company as on June 30, 2021, stands at (-)0.02.

Nilesh Gupta, MD, Lupin said, “While the quarter’s profits were bolstered by the Boehringer Ingelheim MEK programme income, despite a tough operating environment, we see substantial room for growth. We remain committed to growing our US business both with our inline products as well as the ramp-up of Albuterol and Brovana, to continue above-market growth in India, and ensure growth in every part of the business. We 

see meaningful uplift in the second half and remain focused on our journey of expanding margins through driving strong double-digit revenue growth and optimising costs, while ensuring the safety of our people and the highest standards of compliance.”