Industry

Laurus Labs Q3 net up four fold

Drugmaker Laurus Labs has reported ₹272.85 crore consolidated net profit for the quarter ended December, which is nearly a four fold increase from the ₹73.47 crore posted in the corresponding period of previous fiscal.

Revenue from operations increased 76% to ₹1,288.42 (₹729.59 crore), while total income at ₹1,295.35 crore (₹731.51) was 77% higher.

Founder and CEO Satyanarayana Chava said all the divisions contributed to the growth in revenue. The generic API division recorded a growth of over 100% for the quarter. It was led by higher growth in ARV API business and higher volume of 1st line products.

In the Generic FDF (fixed dosage formulations) business segment, the growth in the quarter was led by higher sales from tender business in LMIC (low and middle income countries). The company said the order book for coming quarters is strong. During the quarter, marketing of in-licensed products in the US was commenced.

A release from Laurus Labs said revenue from the Synthesis and Ingredients segment increased 63% year on year during the quarter.

Interim Dividend

The company has declared second interim dividend of 40 Paise (20%) per equity share of ₹2 each for the fiscal. February 9 will be record date for determining the eligibility of the shareholders and the dividend will be paid on or after February 18.

EOM


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Printable version | Jun 24, 2021 10:09:34 PM | https://www.thehindu.com/business/Industry/laurus-labs-q3-net-up-four-fold/article33687332.ece

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