Lupin, a key player in the pharmaceutical industry, witnessed a remarkable surge of around 2 percent, reaching a 52-week high of Rs 1,232.10 during the opening trade on November 9. The surge followed the company’s outstanding earnings report for the July-September quarter, which left investors thoroughly impressed across three critical metrics: revenue, net profit, and profitability.
The pharmaceutical giant’s net profit experienced a staggering increase, skyrocketing to Rs 489.67 crore from Rs 129.73 crore in the year-ago period. This substantial jump in profit was fueled by robust revenue, which exhibited a remarkable growth of over 20 percent, amounting to Rs 4,939.20 crore. The surge in revenue was primarily propelled by strong sales in the United States, driven by the successful launch of the blockbuster respiratory drug, Spiriva, during the quarter.
Nilesh Gupta, Managing Director of Lupin Limited, expressed his satisfaction, stating, “We delivered growth across all our target geographies, while managing costs and achieving operating leverage, thereby driving strong topline and bottomline growth,” in an official exchange filing.
At 9:59 am, Lupin’s shares were trading 0.66 percent higher from the previous close, valued at ₹1,219.15 on the National Stock Exchange.
