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Laurus Labs Ltd posted a record increase in net profit at ₹273 crore in the third quarter ended December 2020 compared to ₹73 crore in the same period in the previous fiscal.
The company’s revenue grew by 76 per cent at ₹1,288 crore as against ₹730 crore in the year-ago period.
“Our Consolidated revenue for the quarter increased by 76 pc driven by growth in all the divisions. we have been able to sustain our EBITDA margins, and our profitability has also improved to ₹273 crs for the quarter ,'' Satyanarayana Chava, Founder & CEO, Laurus Labs said in a release on Thursday.
The generic API division recorded a healthy growth of over 100 per cent for the quarter. ”The increase was led by higher growth in ARV API business in turn led by higher volume of first-line products. The Formulations business showcased a growth of over 120 per cent for the 9M period, led by higher LMIC business. Custom Synthesis continues to maintain its growth trajectory with a healthy pipeline and with good visibility ,'' Chava said.
Hyderabad-based Laurus had also concluded the acquisition of RichcoreLifesciences on January 20. It will be renamed to Laurus Bio shortly.
The company’s board declared Interim dividend of ₹0.40 per share (face value of ₹2).
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