Drugmaker Laurus Labs reported consolidated net profit declined nearly 55% for the September quarter to ₹17.72 crore compared to ₹39.32 crore in the year-earlier period on the back of lower sales in ARV and oncology active pharmaceutical ingredient (API) business.
The lower net profit came on a revenue from operation that was flat at ₹1,223.70 crore (₹1,224.45 crore).
“Q2 results demonstrates continued resilience in financial health, led by strong growth in CDMO vertical [but] offset by lower sales in ARV and Oncology API business. We remain committed to deliver on key NCE opportunities in H2, which is in line with our full year growth outlook,” founder and CEO Satyanarayana Chava said in a release on Thursday.
Interim dividend
The company announced an interim dividend of ₹0.40 per equity share of ₹2 each, for 2024-25. It has fixed November 6 as record date for determining eligibility of the shareholders. Laurus shares closed less than 1% higher at ₹450.35 apiece on the BSE.
Published – October 25, 2024 12:10 am IST
