National Buildings Construction Corporation (NBCC) has posted a consolidated net profit that has jumped by 5.87 per cent at Rs 141.5 crore for the quarter ended March 31, 2016 as against Rs 133.64 crore in the corresponding quarter of the previous year.
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For the full 2015-16 fiscal, the companys consolidated net profit rose to Rs 256.48 crore from Rs 181.90 crore in the previous fiscal. “On the back of our continued delivery on oral solids, this will drive our future growth globally”.
At 12.26 pm, shares of Torrent Power were trading 14.53 per cent down at Rs 194.15.
In exceptional items, IHC has shown a loss of Rs 0.35 crore as against Rs 203.95 crore of Q4 2014-15.
The growth in earnings during the last quarter of FY2016 was driven by Lupin’s USA formulations business, with sales from the segment increasing 58.7 percent year-on-year.
In FY2016, Lupin filed 36 Abbreviated New Drug Application (ANDAs), which are approvals sought from the US Food and Drug Administration to launch generic versions of drugs and secured 39 product approvals, which augurs well for future growth.
The US and Europe formulation sales (including IP) grew by 58% to Rs.2,312 crore during the fourth quarter, accounting for 57% of overall sales.
Lupin now has 124 products in the USA market.
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The company’s revenue expenditure on R&D for the 2015-16 stood at Rs 1,603.8 crore as against Rs 1,098.8 crore in 2014-15.
