Drug firm Lupin today reported a 49.61 per cent dip in consolidated net profit to Rs 380.21 crore for the fourth quarter ended March, mainly on account of increase in expenses and impact of foreign exchange fluctuation.
The company had posted a net profit of Rs 747.88 crore in the corresponding quarter of previous fiscal, Lupin said in a BSE filing.
However, consolidated total revenue from operations rose to Rs 4,253.30 crore for the quarter under consideration as against Rs 4,197.42 crore for the same period year ago.
Net profit for the fiscal year ended March this year stood at Rs 2,557.46 crore as against Rs 2,260.74 crore for the year—ago period.
Total revenue from operations of the company also rose to Rs 17,494.33 crore for the fiscal year ended March 31, 2017.
It was Rs 14,255.54 crore for the previous fiscal year.
Net impact of foreign exchange fluctuation on earnings before interest, taxes, depreciation and amortisation (EBITDA) was a loss of Rs 168 crore during the fourth quarter of FY17 as compared to a gain of Rs 26.7 crore during the fourth quarter of FY16, the company said.
Lupin MD Nilesh Gupta said: “We have had a stellar year with strong double—digit growth across all our regions“.
Steady progress on the complex generic pipeline, company’s impeccable record of compliance and focus on operational excellence will help sustain the growth momentum in the mid to long—term, he added.
Dividend
In another filing to the BSE, the company said its board has recommended a dividend of Rs 7.50 per equity share of the face value of Rs 2 each for the year ended March 31, 2017.
The company filed 25 abbreviated new drug applications (ANDAs) and received 7 approvals from the USFDA during the quarter. Cumulative ANDA filings with the USFDA were 368 as of March 31, 2017, with the company having received 214 approvals to date, Lupin said.
Shares of the company ended 1.71 per cent down at Rs 1,227.65 on the BSE.