Laurus Labs Q2 net profit jumps over four-fold to Rs 242.27 cr

The company had posted a net profit of Rs 56.55 crore for the corresponding period of the previous fiscal, Laurus Labs said in a filing to BSE. Consolidated revenue from operations of the company stood at Rs 1,138.84 crore for the quarter under consideration.

Drug firm Laurus Labs on Thursday reported an over four-fold jump in its consolidated net profit to Rs 242.27 crore for the quarter ended in September on account of robust sales. The company had posted a net profit of Rs 56.55 crore for the corresponding period of the previous fiscal, Laurus Labs said in a filing to BSE.

Consolidated revenue from operations of the company stood at Rs 1,138.84 crore for the quarter under consideration. It was Rs 712.42 crore for the same period a year ago, it added. "Our Consolidated revenue for the quarter increased 60 per cent driven by growth in all the divisions. Our EBITDA (earnings before interest, taxes, depreciation, and amortization) margins continue to improve with better operating leverage, and our profitability has also improved substantially to Rs 242 crore for the quarter," Laurus Labs Founder and CEO Satyanarayana Chava said.

The board of directors has approved an interim dividend of 80 paise per equity share of Rs 2 each, the filing said. Shares of Laurus Labs closed at Rs 330.35 per scrip on the BSE, up 2.39 per cent from its previous close.

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