Laurus Labs financial overview: Q2 and H1 FY24 revenue and earnings insights

Laurus Labs Ltd., a prominent pharmaceutical and biotech R&D entity in India, has released its H1 FY24 financial results. The firm reported a revenue of ₹ 2,406 Cr and an EBITDA of ₹ 356 Cr.

Q2 FY24 Financial Overview

For Q2 FY24, Laurus Labs showcased:

• Revenue of ₹ 1,224 crs, witnessing a decrease of 22% YoY but grew 18% excluding PO.
• EBITDA stood at ₹ 188 crs, marking a 58% decrease YoY with margins at 15.4%.
• Profit After Tax (PAT) recorded at ₹ 37 crs, dropping by 84% YoY, and PAT margins were noted at 3.0%.
• The diluted EPS for the period was ₹ 0.6 per share.

Key Business Highlights and Statements

Commenting on the performance, Founder and CEO Dr. Satyanarayana Chava said, “ImmunoAct associate company of Laurus achieved marketing approval for India’s first CAR-T therapy, NexCAR19. We are proud of this significant breakthrough in treating blood cancer. Q2 operating results began to show improvement, and we are confident about a better H2.”

Breaking Down H1 FY24 Performance

The company’s H1 FY24 results also included:

• A PAT of ₹ 62 crs, with a sharp decrease of 87% YoY and PAT margins settling at 2.6%.
• Diluted EPS for the period was ₹ 1.1 per share with an interim dividend of ₹ 0.40/- per share.

Division-Wise Performance Insights

• Generic FDF: Achieved a revenue of ₹ 617 crs in H1FY24, marking a 24% increase, primarily due to higher off-take in the ARV business.
• Generic API: Reported revenues of ₹ 1,226 crs in H1FY24, a decrease of 3%. The segment performed well in Oncology, showing a 51% increase.
• CDMO-Synthesis: This division reported a sharp decrease in revenues by 63% in H1FY24.
• Laurus Bio – Bio Division: The Bio division reported a revenue increase of 56% in H1FY24, settling at ₹ 89 crs.

Laurus Labs continues its endeavors in transformative technology platforms and expansion of strategic partnerships, indicating a promising future for the firm in the pharmaceutical sector.