Lupin Limited reports record performance for second quarter

Lupin Limited has published its financial report for the second quarter of the 2011-12 fiscal year, during which it experienced a record-breaking performance.

Net sales rose by 24 percent year-on-year to 17.42 billion rupees (217.13 million pounds), while profits grew at the same rate to hit a benchmark-setting total of 2.67 billion rupees.

Growth was observed across a number of the organisation's key markets, including the US, Europe, India, Japan and South Africa, while several regulatory filings for new product approvals were submitted.

Moreover, several new agreements were reached with partners such as Medicis Pharmaceutical Corporation and Lilly, which will help to support further growth.

Dr Kamal Sharma, managing director at Lupin Limited, said: "We had a very good second quarter. Steady product approvals and launches … have helped us deliver 25 quarters of consistent growth."

Currently, the firm operates in more than 70 countries and is one of the world's fastest growing generics specialists.