Laurus Labs reports sharp fall in net profit despite increase in revenue

Laurus Labs Ltd Thursday said its profit after tax for the quarter ended on December 31 was down by 49 per cent to Rs 17.8 crore against Rs 34.9 crore during the same quarter last fiscal. According to a press release issued by the drug maker, revenues from operations stood at Rs 529.5 crore up 10.6 per cent. The same was Rs 478.9 crore in Q3 FY18.

CEO of Laurus Labs, Satyanarayana Chava said, "We delivered healthy revenue growth of 11 per cent this quarter and for 9M FY19, driven by growth in our Synthesis, and Generic API portfolio."