Laurus Labs Q2 Results: Net Profit Down 46%, Misses Estimates
Laurus Labs' net profit slumped 46% year-on-year to Rs 20 crore in the quarter ended Sept. 30, 2024.
Laurus Labs Ltd.'s second-quarter profit declined, missing analysts' estimates.
Net profit of the Hyderabad-based pharma and biotech company slumped 46% year-on-year to Rs 20 crore in the quarter ended Sept. 30, 2024, according to its exchange filing. That compares with the Rs 33-crore consensus estimate of analysts tracked by Bloomberg.
Laurus Labs Q2 FY25 Highlights (YoY)
Revenue flat at Rs 1,224 crore (Bloomberg estimate: Rs 1,282 crore).
Ebitda down 5% at Rs 178 crore vs Rs 188 crore (Bloomberg estimate: Rs 200 crore).
Ebitda margin at 14.6% vs 15.3% (Bloomberg estimate: 15.6%).
Net profit down 46% at Rs 20 crore vs Rs 37 crore (Bloomberg estimate: Rs 33 crore).
Key Highlights
Revenues flat as robust growth in CDMO division offset by lower offtake in ARV/Oncology API business.
Gross Margins at 55.2%, increased by 270 bps year-on-year and 10 bps Q/Q due to product mix.
Research and development spends reported at Rs 67 crore (5.5% of revenues).
Decrease in Ebitda due to lower revenues.
CDMO-Synthesis
CDMO-Synthesis was up +33% on advancing clinical project.
Enhancing platform advantage and prioritised resourcing to meet complex demand while RFPs momentum continued.
Capacity expansion efforts remains on track.
APIs
Q2 impacted from lower demand in Oncology portfolio and ARV volumes dipped both year-on-year and quarter-on-quarter while Other APIs reported in-line.
Formulation:
Delivered volume led quarter on quarter growth of 20%.
Upcoming launches/recent US product approvals to further drive growth in coming quarters.
Bio
Healthy underlying performance and increased customer pipeline building activity strengthening diversified CDMO customer base.
New pilot scale added to support R2 optimisation/in-house projects.
Shares of the company were up 0.14%, compared to 0.18% fall in Nifty 50 at 3:15 p.m.
