Lupin Q2 net up 40 percent to Rs.406 crore

Mumbai, Oct 30 (IANS) Drug maker Lupin saw its consolidated net profit rising 39.8 percent in the second quarter to Rs.406.20 crore, driven by other income, despite higher tax rate.

Consolidated revenue of the company grew 16 percent year-on-year (Y-o-Y) to Rs.2,668 crore in quarter ended September 2013, supported by formulations business and strong growth US, Europe and Africa, the company said in a release.

"Despite challenges in markets like India, we have had a good first half, driven by strong business growth from markets like US and improved operational efficiencies... This consistent performance has led to a sustained EBIDTA and PAT improvement," Nilesh Gupta, managing director, said.

Consolidated earnings before interest, tax, depreciation and amortisation (EBITDA) climbed 27.9 percent Y-o-Y to Rs.660 crore and operating profit margin expanded 230 basis points Y-o-Y to 24.7 percent in the quarter gone by.

Formulations business of the company grew 17 percent while Active pharmaceutical ingredient or API (drug raw material) shot up 20 percent Y-o-Y.

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HDFC profit rises 10 percent to Rs.1,266 crore

Mumbai, Oct 21 (IANS) India's largest mortgage lender Housing Development Finance Corporation (HDFC) Monday said its net profit rose by 10 percent to Rs.1,266.33 crore in July-September quarter.

The company's total income rose to Rs.5,953.98 crore for the quarter ended Sep 30, as compared to Rs.5,277.2 crore recorded in the corresponding quarter of last year.

HDFC's income from main business of home loans to individuals and builders jumped by 13 percent. This was the main driver of the company's profitability and income.

HDFC share price Monday rose 0.23 percent to Rs.820.45 at the Bombay Stock Exchange.

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