Laurus Labs Demonstrates Strong Q3 Growth in the First Quarterly Results After Successful IPO
Monday, 13 February 2017 *Business Wire India*Laurus Labs Ltd. (Laurus), a leading research and development driven pharmaceutical company in India announces its 9M & Q3 FY17 results. *9M FY17 results:*
· Total Revenue grew by 9.7% to Rs.14,459 mn from Rs.13,179 mn
· EBITDA increased by 23.1% to Rs.3,199 mn versus Rs.2,598 mn
· PAT higher by 40.5% to Rs.1,277 mn from Rs.909 mn
· EPS (Diluted) for the period stood at Rs.12.9 per share (not annualised)
*Q3 FY17 results:*
· Total Revenue grew by 12.3% to Rs.5,054 mn from Rs.4,501 mn
· EBITDA increased by 9.4% to Rs.1,115 mn versus Rs.1,019 mn
· PAT higher by 17.5% to Rs.472 mn from Rs.402 mn
· EPS (Diluted) for the period stood at Rs.4.7 per share (not annualised)
*Business Highlights – 9M FY17:*
· Prepayment of long term loans of Rs.2,263 million from IPO proceeds, Rs.585 million spent on general corporate purposes after meeting IPO expenses of Rs.150 million.
· Capex investments in first nine months Rs.2,584 million.
· R & D opex investments Rs.773 million and 5.3% as percentage of sales during Apr – Dec, 2016
· In partnership with Laurus, Natco has launched Velpatasivir (Hep-C) product in Nepal and is geared up for launch in India upon approval.
· As on Dec 2016, the Company has filed 202 patent applications and 37 patents granted.
· Expansion of R & D centre at Hyderabad completed.
· As on date filed 2 ANDAs and in addition completed 4 product validations.
· Capacity expansion of 5 billion tablets is expected to complete by end Mar 17.
· US FDA and WHO inspection scheduled during March 2017 for Unit 2.
· FDF opex investments are Rs.821 million which includes Rs.253 million relating to the R& D during Apr – Dec, 2016
· Unit 5 (dedicated manufacturing facility for Aspen) is inaugurated and is operational in Nov ‘16
· Laurus signed manufacturing and supply agreement for Oncology NCE for clinical phase and commercial supplies
· Dr. Satyanarayana Chava nominated as one of the members of US pharmacopeia Board of Trustees (BoT)
· Laurus Labs received Pharmaexcil patent Silver Award for the contribution in the category of Bulk Drugs /APIs to India’s Pharmaceutical Exports during the year 2015-16
*For more information about us, please visit **http://www.lauruslabs.com**.* View source version on businesswire.com: http://www.businesswire.com/news/home/20170209006030/en/
* Company announcement
* No. 24/2017
* *Financial results for Q2 2017* *
*Highlights for Q2 2017*
· Solid organic growth in net revenue of 5%,... GlobeNewswire - Press ReleasesAlso reported by •FinanzNachrichten.de
STUDENTS at Tamworth's only sixth form are today celebrating a strong set of A Level results – with many of them off to their first choice universities. Pupils... Tamworth Herald - UKAlso reported by •Lichfield Mercury •Blackmore Vale