The company said that while the financial years of Lupin Labs and Lupin Chemicals would have normally ended on June 2000 and July 2000 respectively, they will now end on March 31, 2000 (ie, for fiscal 1999-2000).

Lupin Laboratories has registered a net profit of Rs 17 crore, an increase of 255 per cent, for the quarter ended April-June 2000. Sales for the period increased by 9 per cent to Rs 216.7 crore, while exports for the quarter were up by 21 per cent. Lupin Chemicals registered sales of Rs 24.2 crore and a net profit of Rs 2.08 crore for the quarter-ended June, 30, 2000.

A company press release said that Lupin Labs formulation sales for the quarter stood at Rs 107.6 crore, up by 13 per cent over the corresponding period of the previous year. Domestic formulation sales for the quarter stood at Rs 99 crore up from Rs 91 crore last year.

Revitalised marketing strategies were the major drivers of growth in all therapeutic segments, the company added.

"During the quarter, groundwork for restructuring the domestic formulations business into three divisions (from two) was completed. The new structure was implemented from July 1, 2000 and will lead to sharper customer and therapeutic focus," the release said. The company launched Celcox and E-Ceff during the quarter.

The company's formulation exports doubled to Rs 8 crore, while sales of bulk drugs stood at Rs 104.94 crore, from Rs 97.6 crore last year. The company's bulk business focused on reducing dependence on the Chinese market in favour of more secure/profitable markets.

On its generics business, Lupin Labs said that for the quarter ended June 30, 2000, the company received US FDA approval for its injectable cephalosporins plant. The company expect to enter the US market with cefotaxime as the first product from the injectable range before the end of the current calendar year via alliance partner APP. Lupin also expects to service repeat orders for cefotaxime from Merck in September, 2000.