Business

Laurus Labs Q1 net rises 41% to ₹242 cr.

Drugmaker Laurus Labs consolidated net profit rose almost 41% to ₹241.61 crore for the quarter ended June.

On a sequential basis, however, the net profit declined by 19%.

The year-on-year increase in net profit came on a more than 30% increase in revenue from operations at ₹1,278.50 crore.

In the March quarter, the company had reported ₹1,411.93 crore in revenue from operations. Sustained strong momentum across all business segments, particularly FDF and Synthesis was behind the growth in revenue, it said.

CEO Satyanarayana Chava said the company began FY22 with strong growth in FDF, strong demand in ARV’s for LMIC region and portfolio expansion in developed markets.

Synthesis business retained its growth momentum on the back of increased business from existing and new clients. In the API segment, oncology and ARV APIs registered healthy growth, while revenue from four other APIs witnessed a slowdown. The growth is expected to restore from Q2 FY22. “We remain confident of maintaining a growth trajectory in the generic API business for FY22,” he said.

Shares on Thursday closed 2.29% lower at ₹604.65 apiece on the BSE.


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Printable version | Sep 26, 2021 11:54:12 AM | https://www.thehindu.com/business/laurus-labs-q1-net-rises-41-to-242-cr/article35615754.ece

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