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Laurus Labs Demonstrates Strong Q3 Growth in the First Quarterly Results After Successful IPO

Business Wire India Monday, 13 February 2017
Laurus Labs Demonstrates Strong Q3 Growth in the First Quarterly Results After Successful IPO*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/
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