Pharma firm Laurus Labs reported a 25 percent fall in net profit for the March 2024 quarter. Net profit slipped to Rs 76 crore in the March 2024 quarter from Rs 102 crore in the year-ago period. The results were announced during market hours. The stock slipped up to 3.26% to Rs 420.20 after the earnings. Later, it closed 2.09% lower at Rs 425.30 on BSE. Revenue climbed 4 percent to Rs 1,439.67 crore in the last quarter from Rs 1,380.90 crore in the year ago period.
Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) in Q4 fell to Rs 242 crore, 15% percent lower than the Rs 285.5 crore in the corresponding period of the last year.
EBITDA margin for the quarter fell to 16.7 percent from 20.7 percent last year.
Gross profit margins came at 49.8% in the March 2024 quarter against 49.7% in the March 2023 quarter.
On an annual basis, revenue from operations fell 17% to Rs 5041 crore in FY24 against Rs 6041 crore in FY23. Net profit crashed 80% to Rs 161 crore in the last fiscal against Rs 790 crore in FY23. EBITDA fell to Rs 798 crore in the last fiscal against Rs 1594 crore in the FY23 fiscal.
Operating cash flows slipped 33% to Rs 666 crore against Rs 999 crore in FY23 due to lower EBITDA and increased net working capital.
The board of the firm approved the payment of 2nd interim dividend of Rs 0.40 (20%) per equity share of Rs 2/- each, for the financial year 2023-24.
The company fixed May 08, 2024 as Record Date for determining the eligibility of the shareholders. The dividend amount will be paid on or after May 17, 2024.