Companies

Laurus Labs’ Q2 net zooms to ₹242 crore

Our Bureau | | Updated on: Oct 29, 2020
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Laurus Labs Ltd’s net profit increased multiple times at ₹242 crore in the second quarter ended September 30, 2020 compared to ₹57 crore in the same period last year.

The total revenue of the Hyderabad-based company increased 60 per cent at ₹1,139 crore as against ₹712 crore in the corresponding quarter of the previous year.

According to Satyanarayana Chava, Founder & CEO, Laurus Labs, increase in revenue for quarter was driven by growth in all the divisions.

“Our EBITDA margins continue to improve with better operating leverage, and our profitability has also improved substantially to ₹242 crore for the quarter,’’ he said.

The formulations business grew by over 180 per cent for the quarter, mainly led by higher business in low- and middle-income countries and new launches in various markets.

The generic API division also recorded a growth of 22 per cent for the quarter, led by higher growth in ARV API business owing to higher volumes.

Published on October 29, 2020

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