Laurus Labs gains by nearly 350 per cent in 2020; jumps by more than 15 per cent in October

As the rally in stocks belonging to the pharmaceutical and healthcare sector seems to calm down, S&P BSE Healthcare index fell by around 3.17 per cent since the beginning of October 2020. On the contrary, Laurus Labs has outperformed, gaining by about 17.81 per cent for the same period of time.

The shares of the pharmaceutical company, Laurus Labs, has given huge returns to its investors. Continuing its solid gaining momentum, the shares of the company rose by 2.39 per cent on Thursday after the company announced positive results for Q2FY21.

On a consolidated basis, for Q2FY21, the company’s revenue grew by 60 per cent YoY to Rs 1,139 crore while net profit jumped significantly by 325 per cent YoY to Rs 242 crore.

Led by strong growth in low middle-income countries’ (LMIC) business as well as new launches in multiple markets, Laurus Labs’ formulations business witnessed a stunning growth. Going further, the company’s API division is expected to record positive growth.

With improved demand visibility, stronger profitability, and adequate & responsible capital allocation for sustainable long-term vision, the management of Laurus Labs remains optimistic about the company’s growth trend for the coming fiscal years.

The company also declared an interim dividend of Rs 0.80 per equity share of Rs 2 each for FY21 with November 11, 2020, as the record date for determining the eligibility of the shareholders.

Laurus Labs is a pharmaceutical company operating across four distinct business divisions, generics-active pharma ingredients, generics-finished dosage forms, ingredients, and synthesis.

On Thursday, the stock of the company closed at Rs 330.35 per share, up by 2.39 per cent or by Rs 7.70 per share. Its 52-week high is Rs 343.20 and the 52-week low is Rs 61.90 on BSE.