Latest News | Business Briefs Laurus Labs Q1 PAT Falls 89 Pc to Rs 28 Cr

New Delhi, Jul 27 (PTI) Drug firm Laurus Labs on Thursday said its consolidated net profit after tax declined 89 per cent to Rs 28 crore for the first quarter of the current fiscal.

The company had reported a net Profit After Tax (PAT) of Rs 252 crore in the April-June period of the last fiscal.

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Total income declined to Rs 1,185 crore from Rs 1,541 crore in the year-ago period, the company said in a regulatory filing.

"While our operating results this quarter were primarily impacted by lower sales, operational deleverage and elevated expenses, the underlying demand for key growth portfolio within Non-ARVs generics and CDMO progress remains strong and healthy," Laurus Labs Founder and CEO Satyanarayana Chava stated.

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*** Dr Lal PathLabs Q1 PAT climbs 45 pc to Rs 84 cr * Dr Lal PathLabs on Thursday said its profit after tax rose 45 per cent to Rs 84 crore for the first quarter ended June 30, 2023.

The company had reported a PAT of Rs 58 crore for the June quarter of the last fiscal.

Revenue rose to Rs 541 crore in the period under review from Rs 503 crore in the year-ago period, Dr Lal PathLabs said in a statement.

The company's board, which met on Thursday, recommended an interim dividend of Rs 6 per share for the current fiscal.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)