Sharp spike in Akash Bhanshali, LIC-owned stock after robust Q3 results announcement

Laurus Labs were in high demand on Monday after the Hyderabad-based drug maker reported a robust set of earnings for the October-December period.

The Laurus stock rose five per cent to touch Rs 360 apiece at the strongest level of the day on BSE.

Renowned investor Akash Bhanshali held a 1.14 per cent stake in Laurus Labs, as of December 31, 2022, according to shareholding data. He publicly holds 17 stocks in his portfolio, with a net worth of Rs 3,056 crore as of January 30, 2023, according to stock research portal Trendlyne.

State-run insurance major Life Insurance Corporation (LIC) held 2.7 per cent in the mid-cap pharma company, according to the data.

Laurus Labs Q3 Results

Laurus Labs reported a 32 per cent year-on-year jump in net profit to Rs 203 crore for the quarter ended December 2022. Its revenue increased by half to Rs 1,545 crore for the three-month period, from Rs 1,028.7 crore for the year-ago period, according to a regulatory filing.

The pharma company's earnings before interest, taxes, depreciation and ammortisation (EBITDA) came in at Rs 404 crore for the third quarter of the current financial year, up 39 per cent on a year-on-year basis.

Its margin — a key measure of the profitability of a business — dropped by 210 basis points to 26.1 per cent compared with the year-ago period.

Laurus Labs maintained the guidance for revenue and margin for the current financial year.

Laurus Labs Share Price History

In the last one year, the Laurus stock has lost more than 31 per cent of its value.