Laurus Labs Ltd's net profit fell 25 percent to Rs 76 crore in the March quarter from Rs 102 crore reported in the year-ago period, the pharma firm said on April 25.
Revenue, however, rose 4 percent to Rs 1,439.67 crore from Rs 1,380.90 crore in the year ago period.
A CNBC-TV18 poll had pegged the the bottomline at Rs 107 crore.
Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) for the quarter fell to Rs 242 crore, which is percent lower than the Rs 285.5 crore reported during the same period last year.
EBITDA margin for the quarter fell to 16.7 percent from 20.7 percent last year.
The company said that it experienced a revenue growth in formulations boosted by stablising ARV business and continued volume led
growth in developed market portfolio in FY 24. It added that market outlook continue to be stable and multiple US product launches and increased CMO activity to support asset utilization.
Active Pharmaceutical Ingredients had a sequentially strong (+30%) quarter. Other API (+36%) led by CMO delivery, strong volume in ARV (+18%) and highest ever Oncology APIs (+69%). Customer product pipeline for Laurus further expanded benefitting from Global supply chain diversification, the company added.
In CDMO and synthesis, prospects improved Q/Q and preparing for good growth ahead. In the biologics segment, Laurus had a better than expected full year despite soft Q4 (-37%Y/Y) led by quarter to quarter variability in customer orders. Strong traction in CDMO (r-protein and Growth factors) continued in the quarter, the company added.
The company was in news earlier in April after Goldman Sachs initiated coverage on Laurus Labs with a "sell" rating. The analysts blamed the unfavorable risk-reward ratio for the call. Laurus Labs' shares were trading at nearly 34 times the estimated earnings for the financial year ending March 2026 estimates, a lot higher than the historical price-to-earnings ratio, according to the report.
(This is a developing story. Please come back for more)
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