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 […]

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.

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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.