Profit statements

Lincoln Pharma reports 57.85% increase in standalone net profit to Rs 23.74 crore in Q2 FY23

Lincoln Pharma reported net profit for the quarter ending September 30, 2022 at Rs 23.74 crore compared to net profit of Rs 15.04 crore in Q1 FY23, a growth of 57.85%. Total operating income for the quarter ending September 2022 stood at Rs 146.30 crore, up 12.54% from FY23 first quarter total operating income of Rs 130 crore, according to a statement from the company.

Further, the statement mentioned that EBITDA for the quarter ending September 2022 was Rs 34.59 crore compared to Rs 23.41 crore in the first quarter of FY23, showing a growth of 47, 76%. EPS was reported at Rs 11.84 per share for Q2FY23, compared to Rs 7.49 in Q1 FY23, posting a growth of 58.08%. Shareholders approved a dividend of Rs 1.50 per share for the financial year 21-22 at the 28th AGM held on September 30, 2022.

Commenting on the results and performance, Mahendra Patel, Chief Executive Officer of Lincoln Pharma, said in the statement, “The company delivered strong operational and financial performance during the quarter and is confident of improving its growth figures going forward. The company also recently received an approval from the Australian Medicines and Medical Devices Regulator – Therapeutic Goods Administration (TGA) for its Khatraj facility. The TGA and EU GMP approvals will further strengthen the company’s presence in the market. Strategic growth initiatives, product expansion and geographic expansion, operational efficiencies are likely to maximize value for all stakeholders in the short to medium term.”

Further, the statement said the company reported net profit of Rs 38.72 crore for the H1FY23 ending September 2022. Total operating income for the half year ending September 2022 reported at Rs 276.26 crore , EBITDA for the six months ending September 2022 was reported at Rs 58 and EPS was at Rs 19.33 per share.

Exports for the second quarter of FY23 were reported at Rs 73.58 crore. The company’s export business has grown remarkably over the past few years and grew to 65% of total sales in FY21 from 11% of total sales in FY13. company currently exports to more than 60 countries, including East and West Africa, Central and Latin America and Southeast Asia. It is looking to enter EU markets in the current fiscal year, the statement added.

Over the past five years, Lincoln Pharma has achieved a strong CAGR of 30% in earnings and higher single-digit sales growth, the statement concludes.