Laurus Labs logs 1,185% rise in Q1 net profit, shares hit record high

Shares of Laurus Labs hit a record high post strong Q1 earnings on Friday. The stock hit a high of Rs 845.60 against the previous close of Rs 835.85 on BSE. Market cap of the firm stood at Rs 45,261 crore. Later, the pharma stock closed 0.36% higher at Rs 838.85. 

Net profit surged 1185% year-on-year to Rs 163 crore compared to Rs 13 crore in the same period last year.

Revenue climbed 31% year-on-year to Rs 1570 crore compared to Rs 1195 crore in the corresponding quarter last year.

Earnings before interest, taxes, depreciation and amortisation (EBITDA) surged 127% to Rs 389 crore from Rs 171 crore a year earlier.

Meanwhile, Sensex crashed 721 pts to 81,463 and Nifty closed 225 pts lower to 24,837 in today.

 Laurus Labs is engaged in Development, manufacturing & services of Chemical & Chemical products, Pharmaceuticals, Medicinal Chemical, Bio & Botanical Products.