Laurus Labs Q3 results: Net profit zooms nearly 4-fold to Rs 273 cr

Laurus Labs Q3 results: Net profit zooms nearly 4-fold to Rs 273 cr

Drug firm Laurus Labs on Thursday reported a nearly 4-fold jump in its consolidated net profit to Rs 272.85 crore for the quarter ended in December mainly on account of robust sales.

The company had posted a net profit of Rs 73.47 crore for the corresponding period of the previous fiscal, Laurus Labs said in a filing to BSE.

Consolidated revenue from operations of the company stood at Rs 1,288.42 crore for the quarter under consideration. It was Rs 729.59 crore for the same period a year ago, it added.

“Our consolidated revenue for the quarter increased by 76 percent driven by growth in all the divisions. We have been able to sustain our EBITDA (earnings before interest, taxes, depreciation, and amortization) margins, and our profitability has also improved to Rs 273 crore for the quarter,” Laurus Labs Founder and Chief Executive Officer Satyanarayana Chava said.

“With our vision of creating long-term sustainable growth, we continue to undertake major capex programmes across all divisions,” he added.

In a separate filing, the company said its board has approved the payment of a second interim dividend of 40 paise per equity share of Rs 2 each for the financial year 2020-21.

Shares of Laurus Labs were trading at Rs 358 per scrip on BSE, down 2.24 percent from its previous close.

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