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Laurus Labs arm incorporates wholly-owned unit

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The pharmaceutical ingredients maker said that its wholly-owned subsidiary, Laurus Synthesis, incorporated a subsidiary by the name of Laurus Ingredients with effect from 9 January 2021.

Laurus Ingredients, a step-down subsidiary of Laurus Labs, will undertake ingredients business and will also set up greenfield projects for new synthesis business. The announcement was made after market hours yesterday, 11 January 2021.

Laurus Labs' consolidated net profit surged 328.4% to Rs 242.27 crore on a 59.9% increase in net sales to Rs 1,138.84 crore in Q2 September 2020 over Q2 September 2019.

Shares of Laurus Labs rose 0.50% to Rs 351.90. Laurus Labs is one of the leading manufacturers of API for anti-retroviral (ARV), oncology, cardiovascular, anti-diabetics, anti-asthma, and gastroenterology.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Tue, January 12 2021. 09:22 IST
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