Lupin shares jump nearly 5%; market valuation climbs Rs 4,100.48 cr on strong earnings

New Delhi: Shares of drug maker Lupin on Wednesday ended nearly 5 per cent higher after the firm reported a 77 per cent increase in consolidated net profit in the first quarter ended June 2024.

The stock soared 4.69 per cent to settle at Rs 1,996.50 on the BSE. During the day, it rallied 6.18 per cent to hit the 52-week high of Rs 2,025.

At the NSE, it jumped 4.38 per cent to end at Rs 1,994.55 after surging 6.23 per cent to Rs 2,029.95 -- the 52-week high -- during the day.

The company's market valuation went up by Rs 4,100.48 crore to Rs 91,043.65 crore.

Lupin has reported a 77 per cent increase in consolidated net profit at Rs 801 crore in June quarter of FY25, aided by robust sales across markets.

The Mumbai-based drug maker had logged a net profit of Rs 452 crore in April-June FY24.

Total revenue from operations rose to Rs 5,600 crore in the first quarter from Rs 4,814 crore a year ago, Lupin said in a regulatory filing on Tuesday.

"We have had a strong quarter on the back of the momentum we built through FY24, with performance driven by new products, key geographies, and improvement in our operating margin and profitability," Lupin Managing Director Nilesh Gupta said.

He further said: "We are on track for strong, sustainable growth and margin improvement backed by growth in sales, commercial and operating efficiencies, and a strong compliance story." The company said its sales in North America stood at Rs 2,041 crore, up 28 per cent from Rs 1,590 crore in the first quarter of last fiscal.