Conference Call with Laurus Labs Management and Analysts on Q2FY24 Performance and Outlook. Listen to the full earnings transcript.
Pharmaceuticals company Laurus Labs announced Q2FY24 & H1FY24 results: Q2FY24: Revenue was Rs 1,224 crore, a 22% YoY decrease. Excluding Purchase Orders, there was an 18% growth. EBITDA was Rs 188 crore, down 58% YoY. EBITDA margins stood at 15.4%. Profit After Tax (PAT) amounted to Rs 37 crore, down 84% YoY. PAT margins were at 3.0%. Earnings Per Share (EPS) for the period, on a diluted basis, were Rs 0.6 per share (not annualized). H1FY24: Revenue was Rs 2,406 crore, showing a 23% YoY decrease. Excluding Purchase Orders, there was a 14% growth. EBITDA amounted to Rs 356 crore, indicating a substantial 61% YoY decline. EBITDA margins were at 14.8%. Profit After Tax (PAT) was Rs 62 crore, down by 87% YoY. PAT margins stood at 2.6%. Earnings Per Share (EPS) for the period, on a diluted basis, were Rs 1.1 per share (not annualized). An interim dividend of Rs 0.40 per share was declared. Commenting on the highlights, Founder and Chief Executive Officer Dr. Satyanarayana Chava stated, “ImmunoAct associate company of Laurus became the first strategic collaboration to win marketing approval for India’s first CAR-T therapy, NexCAR19. We are proud of this important innovative breakthrough in treating blood cancer. We feel a combination of their pipeline, technology and Laurus' support in building manufacturing capabilities will accelerate our pursuit of next-generation innovation in cell therapies and new drug discovery. Q2 operating results started to improve and the health of our businesses is intact. Momentum in generic business has picked up during the quarter and CDMO-Synthesis is stable with a healthy scale-up in the project pipeline along with the expansion of our strategic partnerships. Our investments in transformative technology platforms are making good progress and future CDMO growth prospects are very encouraging. The recovery we saw in the quarter gives us confidence that we will have a better H2 resulting from both a healthy order book and strong commercial execution. Our priorities remain consistent on ensuring greater business resilience by accelerating our scientific advantage to deliver the best external and internal opportunities as well as long-term value creation.” Result PDF