Laurus Labs has posted net profit of Rs. 102.98 crores for the period ended March 31, 2023 s against net profit of Rs.230.50 crores for the period ended March 31, 2022. The company has reported total income of Rs. 1382.61 crores during the period ended March 31, 2023 as compared to Rs.1426.12 crores during the period ended March 31, 2022.

Commenting on the highlights, Founder and Chief Executive Officer Dr. Satyanarayana Chava, said: FY23 has been a year of significant achievement and meaningful progress despite a challenging macro environment. We delivered strong full year results driven by robust underlying business performance in our key growth pillars CDMO, and Non-ARVs generic portfolio. Our R&D driven commercial strategy continued to make advancements at speed and we are making efficient use of strongly linked technology platform and manufacturing excellence to seize new business opportunities, and widening our target market. Our investment programs are well on track with a focus on long-term success. We are also continuing to drive forward our sustainability agenda.

“We are entering FY24 with greater confidence that we’re creating a sustainable engine that will bring forth greater business resilience and generate long term sustainable value for stakeholders well into next decade.”

Commenting on the results, V V Ravi Kumar, Executive Director & Chief Financial Officer said: "“We delivered good financial performance for FY23 in line with our revised outlook. We achieved Rs. 6,041 crores in revenues, representing 22% revenues growth, and Rs. 1,594 crores EBITDA, equating to 26.4% margin. Business mix had positively contributed to margins but the negative operating leverage on new capacities commissioned, higher inflation and Fx impact let to the overall margin fall compared to last year. We are working on several initiatives around efficiency improvement, which should partly mitigate its impact in FY24. Our future capex projects towards strengthening CDMO and Non-ARV generics are advancing as per schedule and Debt leverage position remains comfortable.

Our Q4 results was challenging driven by steep fall in CDMO revenues and higher upfront cost of Capex projects and R&D Projects. We achieved, Rs. 1,381 crores in revenues, representing 3% revenues decline, and ₹ 287 crs EBITDA, resulting in 20.8% margin.”