Laurus Labs reports 32.1 percent rise in Q3 profit
Bengaluru: India's Laurus Labs Ltd reported a 32.1 percent rise in third-quarter profit on Monday, boosted by strong demand in its businesses that make chemicals and other ingredients used in medicines.
The company's consolidated profit rose to 2.03 billion rupees (nearly $25 million) in the three months ended Dec 31, from 1.54 billion rupees a year earlier. Revenue at Laurus Labs, which also makes hepatitis C and oncology drugs, rose more than 50 percent to 15.45 billion rupees.
Laurus Labs said revenue from its Synthesis and active pharmaceutical ingredients (API) businesses, each of which account for more than 40 percent of total revenue, rose 210 percent and 49 percent, respectively, in the latest quarter.
While the Synthesis business manufacturers chemical substances used to make drugs, APIs are key biologically active elements in a drug that help with the desired health effects.
Read also: Laurus Lab gets CDSCO panel nod to Manufacture, Market HIV drug Dolutegravir Sodium Oral Film
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