Hyderabad: City-based Laurus Labs Ltd, a research and development-driven pharmaceutical and biotech company announced its first quarter results of financial year 2024-25, on Thursday. The company reported Net Profit of Rs 13 crore, a year-on-year dip of 48 per cent in Q1 of FY25, compared to Rs 25 crore in the first quarter of the previous financial year.

“Q1 results are on expected lines, supported from strong growth in Oncology API and firm demand in ARV, offset by slightly subdued performance in other divisions. We have important opportunities ahead of us especially within CDMO division, and we are highly focused on allocating resources and realising them starting H2. Our commitment to disruptive technology in CGT space continued to do well,” said Dr Satyanarayana Chava, Founder and Chief Executive Officer, Laurus Labs.

The company registered one per cent growth in revenues at Rs 1,195 crore, as against Rs 1,182 crore in Q1 of FY24. V V Ravi Kumar, Executive Director and Chief Financial Officer, Laurus Labs, said, “We delivered Rs 1,195 crore in revenues, representing one per cent growth, and Rs 171 crore EBITDA, resulting to 14.3 per cent margin. While we continue to clock Gross margins of 55.1 per cent during the quarter, the operating results was mainly affected from prioritised resource allocation into delivering several clinical phase complex projects partly causing lower asset utilization, quarter to quarter order cyclicality and dilution from growth projects.”

Kumar said that the company expects performance to pick up from H2, supported by on-hand project deliveries. “We remain committed to FY2025 outlook, and our key CAPEX projects in high value business segments are advancing well to drive medium and long-term growth,” he added.