Drugmaker Laurus Labs reported a more than 43% decline in consolidated net profit to ₹154.97 crore for the quarter ended December 31, 2021.
The lower net profit, compared with the ₹272.85 crore seen a year earlier, came on the back of total income of ₹1,034.09 crore (₹1,295.35 crore). The company attributed the 20% decline in income to the transient inventory correction of the anti-retroviral (ARV) business.
Core results continued to remain resilient with strong growth in synthesis and other APIs, Laurus said in a release. CEO Satyanarayana Chava said lower sales of ARV APIs and formulations due to stocking at channel partners had affected Q3 results.
