Laurus Labs reports profit after tax at Rs 251 crore

Hyderabad: Hyderabad-based pharma company Laurus Labs reported a profit after tax of Rs 251 crore for the June quarter. This is an increase of four per cent over last year. Its revenues were Rs 1,539 crore, up 20% over the corresponding period last year. Its earnings before interest, taxes, depreciation, and amortisation (EBITDA) was Rs 454 crore, an increase of 14% over last year.

Laurus Lab’s performance in the first quarter reflects our efforts towards strengthening and diversifying our business. There is an increased focus on non-antiretroviral active pharmaceutical ingredients and formulations and high-growth contract development and manufacturing segments. A sustainable supply chain, capacity creation, and on-time delivery of products also helped, said Dr Satyanarayana Chava, Founder and Chief Executive Officer of Laurus.

In Q1, Laurus invested Rs 209 crore in capital expenditure. The research and development spend is about Rs 49 cr, or about 3% of revenues. The company has plans to create close to 1 million litre fermentation capacity and is evaluating land for this, a release said.