 "Lupin Q4 net surges nearly three-fold to Rs 408 cr")
New Delhi: Drug major Lupin Ltd today posted nearly three-fold increase in its consolidated net profit at Rs 408.1 crore for the fourth quarter ended March 31, 2013.
The Mumbai-based firm had posted a net profit of Rs 155.6 crore in the same period of previous fiscal. Net sales of the company rose to Rs 2,537.4 crore for the January-March quarter, compared to Rs 1,883.2 crore in the same period of previous fiscal, Lupin Ltd said in a statement.
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Shares of lupin were trading at Rs 732.20 on the BSE in late afternoon trade. Reuters[/caption]
For the year ended March 31, 2013, the company posted a net profit of Rs 1,314.2 crore, compared to Rs 867.6 crore in the 2011-12 fiscal. Net sales of the company rose to Rs 9,461.6 crore for the year ended March 31, 2013, compared to Rs 6,959.7 crore in the 2011-12 financial year.
The company’s board approved the appointment of Kamal K Sharma as Vice Chairman, Vinita Gupta as Chief Executive Officer, and Nilesh Gupta as the Managing Director with effect from September 1, 2013. The company’s board also recommended dividend of 200 percent–Rs 4 per equity shares of the face value of Rs 2 each for the year ended March 31, 2013.
Shares of lupin were trading at Rs 732.20 on the BSE in late afternoon trade, up 2.64 per cent from its previous close.
PTI