Laurus Labs' Q2 net profit at Rs 57 crore

Hyderabad: Laurus Labs Ltd on Friday announced that its total revenue grew by 21 per cent to Rs 712 crore against Rs 588 crore during Q2 FY' 19.

The city-based drug-maker said, profit after tax (PAT) for the quarter ended September 30, 2019 was up by 249 per cent to Rs 56.6 crore against Rs 16.2 crore during the corresponding period last fiscal.

Satyanarayana Chava, CEO, Laurus Labs said, "the performance during the quarter shows the ability to execute the long-term strategy of the company with enhanced revenue from formulations business contributing positively to both topline and margins."

He further said: "We have recorded robust growth across most of our divisions.

The API (active pharmaceutical ingredient) division showed a strong growth during the quarter on the back of increase in new product additions, with oncology and synthesis maintaining their growth momentum."