Pharmaceutical company Lupin Ltd’s earnings moved into the red as the company reported a consolidated net loss of Rs 127.10 crore in the second quarter ended September (Q2) on Wednesday, i.e. 6 November. The company had posted a profit of Rs 266 crore in the year-ago quarter and Rs 303 crore in the quarter ended June 2019.
Lupin shares, however, closed in the green at Rs 759 apiece, up 0.5%. Here are key takeaways from the company’s earnings announcement:
- Lupin’s bottom line was hit in the second quarter due to a one-time loss of Rs 546.5 crore. Profit before that one-time loss stood at Rs 457.3 crore.
- The company’s consolidated revenue increased 10.3% year-on-year to Rs 4,359.7 crore in the September quarter.
- Operating income, or earnings before, interest, tax, depreciation and amortisation (Ebitda), jumped 33% year-on-year to Rs 731.2 crore during the quarter, while margin rose 290 basis points to 16.8%.
- Lupin’s other income fell to Rs 133.3 crore in the September quarter compared with Rs 230.7 crore a year ago.
- The company’s tax expense for the September quarter stood at Rs 34.3 crore against Rs 172.9 crore a year ago.
- Lupin’s India business revenue was up 2.6% compared with the previous quarter.
- The Europe, Middle East and Africa business revenue also rose by a strong 22.7% sequentially. The Asia-Pacific business and Latin America business, however, declined 5.4% and 6.8%, respectively.
- Lupin provided $53.5 million in the September quarter for settlement of a US lawsuit.
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