Industry

Laurus Labs Q3 net slides 43% as ARV sales drag

Drugmaker Laurus Labs reported a more than 43% decline in consolidated net profit to ₹154.97 crore for the quarter ended December 31, 2021.

The lower net profit, compared with the ₹272.85 crore seen a year earlier, came on the back of total income of ₹1,034.09 crore (₹1,295.35 crore). The company attributed the 20% decline in income to the transient inventory correction of the anti-retroviral (ARV) business.

Core results continued to remain resilient with strong growth in synthesis and other APIs, Laurus said in a release. CEO Satyanarayana Chava said lower sales of ARV APIs and formulations due to stocking at channel partners had affected Q3 results.


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Printable version | May 23, 2022 12:33:50 pm | https://www.thehindu.com/business/Industry/laurus-labs-q3-net-slides-43-as-arv-sales-drag/article38335385.ece