Laurus Labs net trebles at ₹73.5 cr

Laurus Labs Ltd’s net profit more than tripled at ₹73.5 crore in the third quarter ended December 31, 2019 as against ₹17.8 crore in the corresponding quarter of previous financial year.

The total revenue of the Hyderabad - based company increased 38 per cent at ₹730 crore (₹529 crore).

“Our formulations growth led by tenders in low middle income countries (in Africa, Latin America and South East Asia) has delivered significant growth in a very short time,” Satyanarayana Chava, Chief Executive Officer, said in a release.

“Other API division maintained its growth trajectory from previous quarters. The introduction of new high value products continue to drive growth,” he added.