Laurus CEO Satyanarayana Chava said the results for the quarter were in line with the company's broader objectives.
V V Ravi Kumar, Executive Director and Chief Financial Officer, said, "As we continue to improve our financial performance we also focused on strengthening our balance sheet and prepaid Rs 2,263 million towards debt obligations from the IPO proceeds.
"This will lead to lower interest rates and healthier return ratios once the performance momentum builds up. I am confident Laurus has some very unique strengths which will help propel us to the position of a leading pharmaceutical player."
As on date, the company has filed two ANDAs (Abbreviated New Drug Applications) and in addition completed four product validations. The capacity expansion of 5 billion tablets is expected to complete by end-March, it added.
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