Lupin share tanks over 9% after reporting Rs 518 crore net loss in Q4

Lupin shares fell 9.21% to Rs 620.35 after reporting a consolidated net loss of Rs 518 crore in Q4 FY22, compared to a net profit of Rs 460.4 crore in Q4 FY21.

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During the quarter, income from operations increased by 2.8% year on year to Rs 3,864.5 crore. In Q4 FY22, overall revenue from formulations was Rs 3,644.2 crore (up 4% YoY), while revenue from API was Rs 220.3 crore (down 13.8% YoY).

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In Q4 FY22, sales in the formulations business increased by 103% YoY in the ROW area, followed by 25.6% YoY in Growth Markets, 8.6% YoY in EMEA, and 5% YoY in India. Sales in North America, on the other hand, fell by 5.3% year on year. EBITDA fell 63.1% year on year to Rs 282.3 crore in Q4 FY22, from Rs 765.7 crore in Q4 FY21.

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In Q4 FY22, the EBITDA margin was 7.3%, down from 20.4% in Q4 FY21. In Q4 FY22, the company reported a pre-tax loss of Rs 85.2 crore, compared to a profit of Rs 518.2 crore in Q4 FY21. R&D spending for the quarter was Rs 344.2 crore or 8.9% of revenue. In the fourth quarter, the company spent Rs 157.7 crore on capital expenditure.

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In FY22, the drugmaker had a consolidated net loss of Rs 1,528 crore, compared to a net profit of Rs 1,216.5 crore in FY21. In FY22, income from operations increased by 8.5% to Rs 16,192.8 crore from FY21. As of March 31, 2022, the operating working capital was at Rs 6,030.3 crore. 

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Lupin is a global pharmaceutical company. The firm develops and commercialises a diverse variety of branded and generic formulations, biotechnology products, and APIs in over 100 markets worldwide, including the United States, India, South Africa, Asia Pacific (APAC), Latin America (LATAM), Europe, and the Middle East.