Drugmaker Laurus Labs reported consolidated net revenue slumped greater than 83% to ₹39.32 crore for the September quarter from ₹233.80 crore within the corresponding interval of earlier fiscal on the again of lower revenue.
Net revenue after taxes and share of loss from associates at ₹37.12 crore (Rs.233.39 crore) declined somewhat greater than 84%.
Revenue from operations at ₹1,224.45 crore (₹1,575.89 crore) was a 22% decline, pulled down by CDMO-Synthesis phase’s contribution at ₹224 crore (₹720 crore) being 69% lower. Revenue from the important thing API phase fell 8% to ₹629 crore (₹680 crore).
Large provide contract execution final yr had contributed to the robust CDMO-Synthesis revenues within the base yr, the corporate mentioned. A low base within the year-earlier interval helped push up the revenue from formulation (FDF), the opposite vital phase, by 123% to ₹332 crore (₹149 crore).
“We delivered sequential recovery in the quarter driven by healthy underlying demand in our product portfolio… expect overall positive momentum to continue along with realisation of cost initiatives driving improved operational results,” CFO V.V. Ravi Kumar mentioned.
Founder and CEO Satyanarayana Chava mentioned the momentum in generic enterprise picked up throughout the quarter and CDMO-Synthesis enterprise is steady with wholesome scale up in mission pipeline together with growth of strategic partnerships. “The recovery we saw in the quarter gives us confidence that we will have a better H2 resulting from both healthy order book and strong commercial execution,” he mentioned.
Interim dividend
The firm has declared an interim dividend of ₹0.40 per fairness share of ₹2 every. October 30, 2023 has been fastened as file date for figuring out the eligibility of the shareholders.
