Generics maker Laurus Lab’s net profit more than doubles in Q1 on strong CDMO business growth
Laurus Labs reported a significant increase in net profit for the June quarter, with revenue more than doubling year-on-year. The growth was primarily driven by a 67% surge in the company's CDMO business and strong performance in its generics division.
Why it matters
The strong financial performance highlights the growing importance of India's pharmaceutical manufacturing sector in the global CDMO market.
Generic drugmaker Laurus Labs’ consolidated net profit more than doubled year-on-year (YoY) to ₹361.99 crore for the June quarter, driven by a 29% jump in revenue.
Revenue from operations rose to ₹2,026.31 crore, supported by a 67% surge in CDMO (Contract Development and Manufacturing Organization) business to ₹870 crore. Within CDMO, small molecules segment grew 69% to ₹835 crore, driven by growth in late-stage clinical and commercial Active Pharmaceutical Ingredient (API) supplies. Revenue from the Bio (large molecules) segment were up 21% to ₹35 crore.
Generics division revenue increased 10% YoY to ₹1,156 crore.
Laurus Labs Executive Director and CFO V. V. Ravi Kumar said the company delivered a strong operating performance in Q1 despite challenging macroeconomic volatility.
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