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Business EconomyPosted at: Jul 25 2024 7:04PM


Laurus Labs Q1FY25 net profit down 48 percent to Rs 13 crore

Hyderabad, July 25 (UNI) Laurus Labs Ltd., a leading research and development driven pharmaceutical and biotech company in India, on Thursday reported a 48 percent decline in its net profit to Rs 13 crores for the June 2024 quarter in FY25.
The company reported a net profit of Rs25 crore in the April-June quarter a year ago.
The revenue during the quarter stood at Rs 1,195 crore as against Rs 1,182 in the corresponding period in FY24, the Hyderabad-based pharma company said in a release here.
Commenting on the results, Dr. Satyanarayana Chava, Founder & Chief Executive Officer said “We have begun FY2025 on a positive note, sustaining momentum in our key CDMO clinical projects and demonstrating resilience in financial health. We are leveraging the power of our comprehensive technology platform & commercial excellence to advance manufacturing of several clinical programs and maximize the value impact of our integrated model”.
Q1 results are on expected lines, supported by strong growth in Oncology API and firm demand in ARV offset by slightly subdued performance in other divisions. We have important opportunities ahead of us, especially within the CDMO division, and we are highly focused on allocating resources and realizing them starting H2, he said.
Our commitment to disruptive technology in the CGT space continued to do well, he said.
“My confidence is strong and growing that we are taking the right step to best position the company for value creation this year and well into the future,” he added.
V V Ravi Kumar, Executive Director & Chief Financial Officer commented; “We delivered Rs 1,195 crore in revenues, representing 1 percent growth, and Rs 171 Crore EBITDA, resulting in 14.3 percent margin”.
While we continued to clock Gross margins of 55.1 percent during the quarter, the operating results were mainly affected by prioritized resource allocation into delivering several clinical phase complex projects partly causing lower asset utilization, quarter-to-quarter order cyclicality, and dilution from growth projects, he said.
We expect performance to pick up mostly from H2, supported by on-hand project deliveries. We remain committed to the FY2025 outlook and our key CAPEX projects into high-value business segments are advancing well to drive medium and long-term growth, he added.
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