Shares of Laurus Labs Ltd rose 6% on July 28 to hit a fresh all-time high on the company's strong Q1 results and allotment of nearly 532 acres by Andhra Pradesh government for establishment of Laurus Pharma Zone.
On July 25, Laurus Labs reported a whopping 1,154% jump in its net profit in June quarter at Rs 163 crore as against Rs 13 crore a year ago.
The firm's revenue rose 31% to Rs 1,570 crore in Q1FY26 as against Rs 1,195 crore in Q1FY25.
Its EBITDA rose 127% YoY to Rs 389 crore.
At 10:25 am on July 28, Laurus Labs shares were trading 7% higher at Rs 898 apiece.
Separately, on July 27, Laurus Labs announced that the Government of Andhra Pradesh has allotted 531.77 acres near Visakhapatnam for establishment of Laurus Pharma Zone (LPZ).
"We are pleased to inform that the Government of Andhra Pradesh has allotted 531.77 acres of land in IP Rambilli Phase-II of Anakapalli District to our Company for establishment of Laurus Pharma Zone (LPZ) for setting up of manufacturing units for Pharma products.
"The Company has projected Rs 5,630 crore of investment and to provide employment to 6,350 people in three phases over a period of eight years. With this allotment, the Company has secured an important component for future expansion of its business i.e., land parcel," said the company in a stock exchange filing.
On Q1 results, Satyanarayana Chava, Founder & Chief Executive Officer said, “We made healthy progress to start the year with increasing contributions from CDMO business and continued advancement of pipeline projects, supported by Generic FDF. We are moving ahead with strong focus on commercial execution realizing the full potential from promising pipeline opportunities, business development and rapidly enhancing scale and technology capabilities.
"We also commenced construction of various facilities across CDMO, Generics and FDF. Once complete, these facilities will fortify our ongoing commitment of being a high-quality development and manufacturing partner at scale including advanced therapies. We remain confident in our strategic direction and commitment as the source of sustainable value creation now and well into the future.”
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