Laurus Labs Q2 PAT slides 17% YoY to Rs 202 cr

The pharma company's consolidated net profit fell 16.66% to Rs 201.90 crore on 5.68% increase in net sales to Rs 1203.48 crore in Q2 September 2021 over Q2 September 2020.

Profit before tax (PBT) fell 16.46% to Rs 262.59 crore in Q2 September 2021 over Q2 September 2020.

During the quarter, EBITDA fell 8% to Rs 348 crore while EBITDA margins stood at 29%.

Revenue growth is driven by sustained performance in Finished Dosage Forms (FDF), synthesis and sequential recovery in other APIs while ARVs APIs declined.

FDF business recorded a growth of 10% YoY to Rs 495 crore (41% of total revenues vs 40% last year). API business reported de-growth for the quarter at 8% YoY to Rs 527 crore.

The synthesis division delivered growth of 34% YoY in Q2 to Rs 155 crore. The bio division clocked sales of Rs 26 crore as new capacity begin to contribute.

Commenting on the results announcement, V V Ravi Kumar, ED & Chief Financial Officer said; While our Q2 results are slightly subdued we achieved healthy momentum for overall H1 FY22. Laurus Labs reported a modest revenue growth of 6% at ₹1,203 crs in Q2FY22, due to transient impact of channel de-stocking for ARV business. EBITDA has declined by 8% to ₹348 crs while our EBITDA margins were maintained. In the 1HFY22, our Revenues have grown 17% to ₹2,482crs, driven by strong momentum in FDF and CDMO business. EBITDA has grown by 13 % to ₹748 crs and our Margins have sustained over 30%. Our growth accelerators remains on tracksupported by much needed strategic investments.

Laurus Labs is a fully integrated pharmaceutical and biotechnology company, with a leadership position in generic Active Pharmaceutical Ingredients (APIs) and a major focus on anti-retroviral, Hepatitis C, and oncology drugs.

Ahead of the result announcement, Laurus Labs fell 6.66% to Rs 536.65.

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