Laurus Labs tumbles about 9% on heavy volumes

Laurus Labs slumped 8.86% to Rs 445.50 on the BSE.

On the BSE, the counter clocked a volume of 2.12 crore shares as against its average trading volume of 21,587 shares in the past one quarter.

On the NSE, the counter clocked a volume of 2.15 crore shares as against its average trading volume of 4.02 lakh shares in the past one quarter.

The stock rose 8.6% in the past one month, compared with the Nifty Pharma index's 5.8% rise in the same period. The scrip rose 2.5% in the past three months as against the Nifty Pharma index's 12.7% rise.

Laurus Labs' consolidated net profit surged 155.09% to Rs 110.15 crore on a 32.11% jump in net sales to Rs 839.14 crore in Q4 March 2020 over Q4 March 2019. The result was announced after market hours on 30 April 2020.

EBITDA for Q4 March 2020 jumped 71% to Rs 193.40 crore over Q4 March 2019. EBITDA margin for the quarter stood at 23%.

Laurus Labs operates as a pharmaceutical company. The company researches, develops, and manufactures active pharmaceutical ingredients for therapeutic areas of anti-retrovirals and hepatitis C. The drug maker serves customers worldwide.

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