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Laurus Labs posted a 46 per cent decrease in its net profit in the second quarter ended September 2024 at ₹20 crore as against ₹37 crore earned in the corresponding quarter of previous financial year.
The revenue of the Hyderabad-based drug maker remained flat at ₹1,224 crore.
“During Q2, we delivered ₹1,224 crore in revenues and ₹182 cr EBITDA, resulting in 14.9 per cent margin. Gross margins maintained at 55.2 per cent due to favourable CDMO mix and process optimisation,’‘ VV Ravi Kumar, Executive Director and Chief Financial Officer, said in a release.
Lower utilisation
“Operating results were affected by lower utilisation of assets as we continue to prioritise resources towards delivering several complex projects at various clinical phases,’‘ he added.
Satyanarayana Chava, Founder and Chief Executive Officer, Laurus, said: “Looking at industry fundamentals, we are well positioned to capture value by maintaining our focus on solving customer complex needs and deliver long-term stakeholder value.’‘
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