Laurus Labs slides after poor Q3 earnings

Laurus Labs lost 4.2% to Rs 516 at 10:46 IST on BSE after consolidated net profit fell 22.5% to Rs 34.87 crore on 5.3% decline in net sales to Rs 478.93 crore in Q3 December 2017 over Q3 December 2016.

The result was announced after market hours yesterday, 29 January 2018.

Meanwhile, the S&P BSE Sensex was down 206.67 points or 0.57% at 36,076.58. The S&P BSE Mid-Cap index fell 0.59%, underperforming the Sensex.

On the BSE, 13,000 shares were traded on the counter so far as against average daily volumes of 20,765 shares in the past one quarter. The stock had hit a high of Rs 520 and a low of Rs 509 so far during the day. The stock had hit a record high of Rs 634 on 12 June 2017 and a 52-week low of Rs 468 on 3 February 2017.

The stock had underperformed the market over the past one month till 29 January 2018, sliding 0.78% compared with the Sensex's 6.54% rise. The stock had also underperformed the market over the past one quarter, advancing 0.07% as against the Sensex's 9.43% rise. The scrip had also underperformed the market over the past one year, surging 13.72% as against the Sensex's 30.13% rise.

The mid-cap company has equity capital of Rs 106.03 crore. Face value per share is Rs 10.

Laurus Labs is a research and development driven pharmaceutical company in India.

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