Laurus Labs in the red

Laurus Labs has slipped into the red today, going down 5.5% to Rs.510.45 and is the top loser on the BSE currently. The stock’s 52-week low is at Rs.468.

The company posted a very poor show for Q3FY18. Its net revenue was down over 5% (YoY) at Rs.479 crore. EBITDA was down 13% at Rs.97 crore with margins slipping down from 22.2% to 20.3%.

It ended the quarter with a net profit at Rs.35 crore, down 22%.

The poor show was mainly on account of its Generic API portfolio, which reported a marginal decline in growth due to lower contribution from Hep C.