Laurus Labs Q3 net profit surges to ₹91 crore 

Generic drugmaker Laurus Labs’ consolidated net profit rose to ₹90.61 crore in the third quarter ended December from ₹25.17 crore year earlier on a 18% increase in revenue from operations at ₹1,415.05 crore (₹1,194.92 crore).

“The quarter witnessed robust growth in the CDMO and FDF division, partially offset by soft API performance. Healthy commercial execution is our top priority and performance is well on track with revenues accelerating in Q4,” founder and CEO Satyanarayana Chava said.

The active pharmaceutical ingredient business revenues in the quarter declined 7% YoY to ₹531 crore on account of lower offtake, particularly ARV volumes. The company said it will continue to maintain the focus on expanding CMO engagements and increase efficiency.

The FDF business reported ₹436 crore revenue, an increase of 19% YoY. In the CDMO segment revenues increased 89% YoY at ₹400 crore driven by new assets ramp up and advancing clinical projects, it said in a release.

“Our capital allocation strategy remain unchanged, prioritising investments into high value CMO/CDMO opportunities to drive near and long-term growth,” CFO V.V.Ravi Kumar said.

Laurus Labs shares on Friday closed 2.79% higher at ₹601.25 apiece on the BSE.