Laurus Labs posts net profit at Rs 273 crore
The company’s revenue grew by 76 per cent at Rs 1,288 crore as against Rs 730 crore in the year-ago period.
Hyderabad: Laurus Labs posted a jump in net profit at Rs 273 crore in the third quarter ended December 2020 compared to Rs 73 crore in the corresponding period of the previous fiscal.
The company’s revenue grew by 76 per cent at Rs 1,288 crore as against Rs 730 crore in the year-ago period.
“Our consolidated revenue for the quarter increased by 76 per cent driven by growth in all the divisions. We have been able to sustain our EBITDA margins, and our profitability has also improved to Rs 273 crores for the quarter,” Satyanarayana Chava, founder & CEO, Laurus Labs said.
“The generic API division recorded a healthy growth of over 100 per cent for the quarter. The increase was led by higher growth in ARV API business in turn led by higher volume of first-line products. The formulations business showcased a growth of over 120 per cent for the nine month period, led by higher LMIC business. Custom Synthesis continues to maintain its growth trajectory with a healthy pipeline and with good visibility,” Chava said.
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