Hot Pursuit     18-Jun-24
Laurus Labs edges lower after CARE Ratings downgrades rating outlook to 'negative'
Laurus Labs fell 1.54% to Rs 427.85 after CARE Ratings revised its outlook on the long-term credit facilities of the company to 'negative’ from 'stable’ while affirming the rating on the same at "CARE AA”.

The credit rating agency has affirmed its rating on the short-term credit facilities of Laurus Labs at "CARE A1+”.

Laurus Labs is a fully integrated pharmaceutical and biotechnology company, with a leadership position in generic active pharmaceutical ingredients (APIs) and a major focus on anti-retroviral, oncology drugs, cardiovascular, gastro and hepatitis C therapeutics. The company also develops and manufactures oral solid formulations, provide contract research and manufacturing services (CRAMS) to global pharma companies.

The company’s consolidated net profit dropped 26.58% to Rs 75.61 crore in Q4 FY24 as compared with Rs 102.98 crore in Q4 FY23. Revenue from operations increased 4.26% to Rs 1,439.67 crore in Q4 FY24 as compared with Rs 1,380.90 crore posted in corresponding quarter last year.

Previous News
  Laurus Labs
 ( Results - Analysis 24-Jan-24   17:06 )
  Laurus Labs fixes record date for 2nd interim dividend
 ( Market Beat - Reports 27-Apr-23   15:18 )
  Laurus Labs consolidated net profit declines 88.60% in the December 2023 quarter
 ( Results - Announcements 24-Jan-24   16:59 )
  Laurus Labs consolidated net profit declines 90.11% in the June 2023 quarter
 ( Results - Announcements 27-Jul-23   16:39 )
  Laurus Labs slips as Q4 PAT slumps 55% YoY; R&D exp at Rs 211 cr in FY23
 ( Hot Pursuit - 27-Apr-23   15:43 )
  Laurus Labs Ltd spurts 0.01%, gains for five straight sessions
 ( Hot Pursuit - 04-Apr-24   13:00 )
  Laurus Labs PAT tumbles 90% YoY in Q1 FY24
 ( Hot Pursuit - 27-Jul-23   16:08 )
  Laurus Labs consolidated net profit declines 55.32% in the March 2023 quarter
 ( Results - Announcements 27-Apr-23   16:01 )
  Laurus Labs receives Establishment Inspection Report for its Visakhapatnam unit
 ( Corporate News - 20-Jan-23   13:40 )
  Laurus Labs Ltd up for third straight session
 ( Hot Pursuit - 14-Nov-22   13:05 )
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