Laurus Labs Q2 Profit Up 14% At Rs 233 Crore

Drug firm Laurus Labs on Friday said its consolidated net profit increased 14 per cent to Rs 233 crore in the second quarter ended September 30, 2022.
     
The company had reported a net profit of Rs 204 crore in July-September period a year ago.
     
Revenue from operations rose to Rs 1,576 crore in the quarter from Rs 1,203 crore in the year-ago period, Laurus Labs said in a statement.
     
Laurus Labs Founder and CEO Satyanarayana Chava said the results reflect the company's efforts towards strengthening and diversifying its business.
     
He noted that the company has developed a novel delivery for pediatric HIV treatment and expects to file an NDA (new drug application) shortly.
     
"This should significantly enhance our market position. Our capital allocation priorities remain unchanged. We will continue to prioritise investments in our pipeline..," Chava stated.
     
On business outlook, he said, "Looking forward to the second half of 2023, we expect to deliver a strong underlying revenue growth and stable EBITDA margins of 30 per cent in FY2023."