The pharmaceutical ingredients maker said that its wholly-owned subsidiary, Laurus Synthesis, incorporated a subsidiary by the name of Laurus Ingredients with effect from 9 January 2021.
Laurus Ingredients, a step-down subsidiary of Laurus Labs, will undertake ingredients business and will also set up greenfield projects for new synthesis business. The announcement was made after market hours yesterday, 11 January 2021.Laurus Labs' consolidated net profit surged 328.4% to Rs 242.27 crore on a 59.9% increase in net sales to Rs 1,138.84 crore in Q2 September 2020 over Q2 September 2019.
Shares of Laurus Labs rose 0.50% to Rs 351.90. Laurus Labs is one of the leading manufacturers of API for anti-retroviral (ARV), oncology, cardiovascular, anti-diabetics, anti-asthma, and gastroenterology.
Powered by Capital Market - Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
RECOMMENDED FOR YOU