Laurus Labs Ltd has announced its Q3 & 9M FY22 results. On Friday, the company's stock will be in focus following its earnings.
9M FY22 :
However, Strong momentum in our CDMO business continued this quarter with over 60% growth and also seen healthy rebound in API business (ex-ARV) with activity levels picking up. We continue to sharpen our execution as we focus on positioning our businesses for sustainable long term growth”
Commenting on the results announcement, V V Ravi Kumar, ED & Chief Financial Officer said; “Laurus Labs reported 9MFY22, our Revenues have grown 3% to Rs3,511cr, driven by Strong CDMO business, steady FDF and likely rebound in Other APIs. EBITDA came at Rs1,038cr with EBITDA margins at 30% as better mix compensated for negative operating leverage.
Q3 Revenues of Rs1,029cr, fell 20% YoY, impacted by continued stocking concern in ARV business. Despite a tough environment we have demonstrated healthy Gross Margins expansion due to better mix. EBITDA has declined by 33% to Rs290cr while our EBITDA margins were largely consistent at 28%.”
At around 9:32 AM, Laurus Labs was trading at Rs454.40 per share down by Rs9.4 or 2.03% on the BSE.
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