Lupin shares opened in the green and hit a 52-week high of Rs 1,238.45 on 9 November after the company announced its earnings for the July-September quarter of the current fiscal year.

The drug manufacturing company reported an almost four-fold year-on-year (YoY) increase in its consolidated net profit at Rs 489.6 crore for the quarter under review from Rs 129.7 crore reported in the year-ago quarter.

The total revenue from operations of the company saw a 21% YoY increase to Rs 5,039 crore during the quarter from Rs 4,146 crore reported in the same quarter during the previous fiscal year. The revenue growth during the quarter was driven by strong sales in the US segment following the launch of the respiratory drug Spiriva during the quarter.

The company’s EBITDA (earnings before interest, taxes, depreciation and amortisation) almost doubled to Rs 958.2 crore during the quarter from Rs 468 crore reported in Q2Fy23. The EBITDA margins of the company expanded by 800 basis points to 19.4% during the quarter.

In its regulatory filing, Nilesh Gupta, Managing Director of Lupin Limited, said, “We delivered growth across all our target geographies, while managing costs and achieving operating leverage, thereby driving strong topline and bottomline growth.”

The sales in the US segment saw a surge of 40% YoY to Rs 1,866.60 crore and made up 38% of the company’s global sales. The revenue from the rest of the world also surged twofold to Rs 199 crore during the quarter.

However, the sales in the India segment saw a nominal growth of 7% following weaker acute sales due to a sporadic monsoon, resulting in a slower offtake in viral infections.

At 11:50 am, the shares of Lupin were trading 1.89% higher at Rs 1,233.95 on NSE.