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Laurus Labs Q2FY23 PAT up 15.3% at Rs232.81 crore as input cost spike offsets sales growth gains

25 Oct 2022 , 09:18 PM

Laurus Labs
Laurus Labs reported 30.94% growth in total revenues for the September 2022 quarter on consolidated basis at Rs1,576cr.

Revenue growth was 2.40% in sequential terms. The company, like most of the pharma companies has been facing pressure on the inventory front with a sharp spike in the levels of inventories and trade receivables.

That has been one of the reasons why the net cash from operating activities in the first half of the current fiscal year has fallen by 22.8% on a yoy basis at Rs243 crore, showing working capital pressure.

Consolidated Profit after tax (PAT) for September 2022 quarter was up 15.31% at Rs232.81cr and it was -7.35% lower on sequential basis.

The reason for the profits growing slower than the revenues is the sharp spike in raw material input costs amid supply chain constraints.

This has also led to the company holding on to higher inventories and trade receivables resulting in higher capital locked up in working capital.

Net profit margins at 14.77% in Q2FY23 were lower compared to 16.78% in Q2FY22 and against 16.3% in Q2FY23.

Financial highlights for Sep-22 compared yoy and sequentially

Laurus Labs
Rs in Crore Sep-22 Sep-21 YOY Jun-22 QOQ
Total Income (Rs cr) ₹ 1,575.89 ₹ 1,203.48 30.94% ₹ 1,538.94 2.40%
Net Profit (Rs cr) ₹ 232.81 ₹ 201.90 15.31% ₹ 251.28 -7.35%
Diluted EPS (Rs) ₹ 4.32 ₹ 3.74 ₹ 4.66
Net Margins 14.77% 16.78% 16.33%

Related Tags

  • Laurus Labs management
  • Laurus Labs news
  • Laurus Labs Q2
  • Laurus Labs Q2FY23 PAT
  • Laurus Labs Q2FY23 Pharma business
  • Laurus Labs Q2FY23 Result
  • Laurus Labs quarterly results
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