H1 FY18 REVENUES UP 10 %
H1 FY18 EBITDA grows 10 %
H1 FY18 PAT grows 19 %
Laurus Labs Records Healthy Performance, PAT Grows at 19% in H1 FY18
Laurus Labs Ltd. (Laurus BSE: 540222, NSE: Lauruslabs, ISIN: INE947Q01010), a leading research and development driven pharmaceutical company in India announces its Q2 & H1 FY18 results.
Q2 FY18 Laurus reported:
Commenting on the results announcement, Dr. Satyanarayana Chava - CEO said;
“Our quarterly performance in line with expectations as we continue to deliver growth across business segments. The ARV business witnessed a significant rise in revenues backed by strong customer off take, we expect to maintain the momentum for the remaining half of the year. Hep C still growing by volume but the value not grown because of the pricing. Launch quantities of Velpatasvir API supplied in Q1 itself. Our Performance of Synthesis business also showed a healthy growth during the quarter. .
Amongst the new initiatives that are lined up, Synthesis business, we expect to see revenues from Unit 5 earlier than expected in Q4 FY18. I am also very pleased to share, that our Unit 2 has received EIR from USFDA, thereby clearing the way for future FDF approvals. Over the years we have built state of the art research and manufacturing capabilities and developed strong partnerships in key lines of business. At Laurus, we thrive on our superior R&D skills and manufacturing excellence to augment our product profile in all business segments. It is our endeavour to be present across the entire value chain and we are firmly on our path of developing into a full-fledged pharma company with unique R&D capabilities.”
Commenting on the results announcement, V V Ravi Kumar, ED & Chief Financial Officer said;
“I am glad to share that we have delivered a healthy performance for the quarter and six months under review. The overall performance was driven by growth in our ARV business, this coupled with a strong growth in Other APIs and also from Synthesis division, we have been able to show double digit revenue growth for H1 FY18.
Our EBIDTA margins expanded by 50 BPS sequentially for the quarter, benefiting from increased utilisation of assets, leading to better operating leverage. We are confident that our new initiatives in Generic FDF and Synthesis will augment overall performance. This supported by improved performance in API’s and Ingredients businesses, further strengthen our balance sheet and help us invest in growth initiatives across segments.”
About Laurus Labs Limited
Laurus is a leading research and development driven pharmaceutical company in India. The Company has grown consistently to become one of the leading manufacturers of Active Pharmaceutical Ingredients (APIs) for anti-retroviral (ARV) and Hepatitis C. Laurus also manufactures APIs in Oncology and other therapeutic areas. Its strategic and early investments in R&D and manufacturing infrastructure have enabled it to become one of the leading suppliers of APIs in the ARV therapeutic area. Initiatives are in place to develop a Finished Dosages Forms capabilities on the back of existing strengths in APIs. The Company is also driving growth opportunities in the Synthesis and Ingredients businesses.
Corporate Identification No: L24239AP2005PLC047518
DISCLAIMER: Certain statements in this document may be forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties like regulatory changes, local political or economic developments and many other factors that could cause our actual results to differ materially from those contemplated by the relevant forward-looking statements. Laurus Labs Limited (Laurus) will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.
LAURUS LABS RECORDS HEALTHY PERFORMANCE, PAT GROWS AT 19% IN H1 FY18
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