Companies

Laurus Labs posts ₹110-cr profit in Q4

Our Bureau | | Updated on: Apr 30, 2020

Board recommends stock split, announces dividend

Laurus Labs Ltd’s profit jumped to ₹110.2 crore in the fourth quarter ended March 31, up 155 per cent over the corresponding quarter of the previous financial year.

The Hyderabad-based pharmaceutical company registered consolidated revenues of ₹839 crore, up 32 per cent, in the quarter.

For the financial year ended March 31, the company’s profit was higher at ₹255.3 crore, and total revenues were up 24 per cent at ₹2831.7 crore.

The company announced interim dividend of ₹1.50 per share and final dividend of ₹1 per share. The Board of Directors recommended for the sub-division of equity shares from existing face value of ₹10 each to face value of ₹2 each (that is, split of 1 equity share of ₹10 each into 5 equity shares of ₹2 each).

Satyanarayana Chava, Founder & CEO, Laurus, in a statement said, “We have closed FY20 on a strong footing, recording our highest ever revenue, EBITDA and profit numbers. Our formulations business, led by LMIC tender business, continues to deliver robust growth resulting in 30 per cent revenue contribution for the year.

“Along with the tender business we are also seeing many new opportunities in developed markets of North America and Europe. We continue to file 8-10 ANDAs a year as we see many long term opportunities in US generics space,” he said.

The company said all its greenfield units have turned cash positive and it has deployed ₹160 crore (5.7 per cent of sales) on R&D.

The company filed 257 patent applications and 116 patent granted as on March 31.

Published on April 30, 2020

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