Laurus Labs PAT rises 15% yoy to Rs233 crore in Q2FY23; Stock drops ~2%

25 Oct 2022 , 09:22 AM

Laurus Labs Ltd. has announced its Q2 & H1 FY23 results.

H1 FY23 :

• Revenue at Rs3,115 crore, increased 26 % yoy
• EBITDA at Rs903 crore, increased by 21 % yoy
• EBITDA margins at 29%
• PAT at Rs484 crore, increased by 9% yoy
• PAT margins at 16%
• EPS (Diluted) (face value of Rs2/-) for the period at Rs9.0 per share (not annualised)
• Interim Dividend of Rs0.80/- per share.

Q2 FY23 :

• Revenue at Rs1,576 crore, increased 31% yoy
• EBITDA at Rs449 crore, increased by 29% yoy
• EBITDA margins at 28.5%
• PAT at Rs233 crore, increased by 15% yoy
• PAT margins at 15%
• EPS (Diluted) for the period at Rs4.3 per share (not annualised)

Founder and Chief Executive Officer Dr. Satyanarayana Chava stated “In the First Half of 2023 Laurus Lab’s delivered healthy results. It reflect our efforts towards strengthening and diversifying our business by increasing revenues from CDMO and Non ARV API and Formulations. ARV FDF performance was very weak, impacted by lower volumes and adverse pricing but we expect good reversal in H2.

We are also pleased to update on R&D progress where we have developed a Novel Delivery for Pediatric HIV treatment and expect to file NDA shortly. This should significantly enhance our market position. Our capital allocation priorities remain unchanged. We will continue to prioritize investments in our pipeline and business within Non-ARVs to realize the value of the several mid and long-term opportunities in front of us.

Looking forward to Second Half 2023, we expect to deliver a strong underlying Revenue growth and stable EBITDA margins of ~30% in FY2023.”

At around 9:21 AM, Laurus Labs Ltd is currently trading at Rs471.50 per share down by Rs8.25 or 1.72% from its previous closing of Rs479.75 per share on the BSE.

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