Laurus Labs Q4 Profit Soars 3-Fold to Rs 234 cr

New Delhi, Apr 24 (PTI) Drug firm Laurus Labs on Thursday said its consolidated profit increased three-fold to Rs 234 crore for the March quarter, driven by strong sales.

The Hyderabad-based company reported a net profit of Rs 76 crore for the same quarter of FY24.

Revenue increased to Rs 1,720 crore for the fourth quarter as compared with Rs 1,440 crore in the year-ago period, Laurus Labs said in a regulatory filing.

For FY25, the company said its profit rose to Rs 358 crore as against Rs 161 crore in the 2023-24 fiscal year, it added.

Revenue increased to Rs 5,554 crore in last fiscal year as compared with Rs 5,041 crore in the 2023-24 financial year.

"We delivered very good Q4 results and continued our transformative progress, reflecting robust demand for our CDMO offerings and meeting complex customer needs," Laurus Labs Founder & CEO Satyanarayana Chava said.

The company is deepening its cooperation with major clients, and augmenting it with promising BD and capacity creation, he added.

"Our business remains well positioned to evolve into a well-diversified CMO/CDMO company with promising pipeline, enabling several technology platforms and commercial excellence, thanks to team commitment to the unified vision of delivering high quality integrated solution and securing our long-term growth potential," Chava said.

Going ahead, the company remains confident in its growth expectations as it looks forward to execute on long lead programs, new assets ramp up with revenue increasing over FY25 with continued focus on operational excellence, CFO V V Ravi Kumar said.

"Our capital allocation strategy remain unchanged, prioritising investments into high value business opportunities," he added.

The company said its board has approved second interim dividend of Rs 0.80 per share of Rs 2 each for the financial year 2024-25.

Shares of the company were trading 0.51 per cent down at Rs 647.15 apiece on the BSE.