Laurus Labs Ltd Q1FY22 consolidated PAT at Rs. 241.39 crores

Laurus Labs Ltd has reported financial results for the period ended June 30, 2021.

Financial Results (Q1 FY 2021-22) - QoQ Comparison

The company has reported total income of Rs.1284.35 crores during the period ended June 30, 2021 as compared to Rs.1416.45 crores during the period ended March 31, 2021.

The company has posted net profit / (loss) of Rs.241.39 crores for the period ended June 30, 2021 as against net profit / (loss) of Rs.296.68 crores for the period ended March 31, 2021.

The company has reported EPS of Rs.4.48 for the period ended June 30, 2021 as compared to Rs.5.50 for the period ended March 31, 2021.

Financials	Q1 FY2021-22	Q4 FY20-21	% Change
Total Income	₹ 1284.35 crs	₹ 1416.45 crs	-9.33%
Net Profit	₹ 241.39 crs	₹ 296.68 crs	-18.64%
EPS	₹ 4.48	₹ 5.50	-18.55%

Financial Results (Q1 FY 2021-22) - YoY Comparison

The company has reported total income of Rs.1284.35 crores during the period ended June 30, 2021 as compared to Rs.981.41 crores during the period ended June 30, 2020.

The company has posted net profit / (loss) of Rs.241.39 crores for the period ended June 30, 2021 as against net profit / (loss) of Rs.171.78 crores for the period ended June 30, 2020.

The company has reported EPS of Rs.4.48 for the period ended June 30, 2021 as compared to Rs.3.21 for the period ended June 30, 2020.

Financials	Q1 FY2021-22	Q1 FY2020-21	% Change
Total Income	₹ 1284.35 crs	₹ 981.41 crs	30.87%
Net Profit	₹ 241.39 crs	₹ 171.78 crs	40.52%
EPS	₹ 4.48	₹ 3.21	39.56%

Commenting on the results announcement, Dr. Satyanarayana Chava - CEO, said: "We have started the financial year 22 with strong growth in FDF, with the strong demand in ARV's for LMIC region and our portfolio expansion in developed markets. Our Synthesis business retained its growth momentum powered by the increased business from the existing clients and new clients; the segment registered strong growth with +95% YoY, with ongoing commercial supplies for four products. In the API segment, Oncology and ARV APIs registered healthy growth. In contrast, revenue fromour other API witnessed a slowdown, and the growth is expected to restore from Q2 FY22, we remain confident of maintaining a growth trajectory in the Generic API business for FY22. In addition, Laurus Bio started contributing to the revenue and would add more from Q2 FY22, with the new fermentation capacities added in recombinant food protein."

Commenting on the results announcement, V V Ravi Kumar, ED & Chief Financial Officer said: "We are happy that Laurus Labs has registered revenue ₹ 1279 Crs in Q1 FY22, with 31% YoY. Our EBITDA margins were maintained at 31%. Laurus Bio has started contributing to revenues and margins from Q1 FY22. Our Gross Margins continue to grow on the back of a better product mix and improved sales from all the segments. Our performance focus is on growth driven by superior execution and completing our Future Ready strategy with manufacturing capacity expansions - a combination of brown and greenfield in API, FDF, and Synthesis divisions. With sustained business opportunities, we remain confident of achieving sustainable return ratios in the FY2022-23 and beyond."

Shares of Laurus Labs Ltd was last trading in BSE at Rs. 604.65 as compared to the previous close of Rs. 618.85. The total number of shares traded during the day was 546410 in over 29729 trades.

The stock hit an intraday high of Rs. 625.2 and intraday low of 593.1. The net turnover during the day was Rs. 330934184.

Source : Equity Bulls

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