Slow improvement in sales could weigh on pharma firm Laurus' performance

Company reported lower-than-expected revenue after missing target in key segment

The stock of pharma company Laurus Labs shed 5.5 per cent in trade after muted December quarter results and expectations of slower sales in key segments. Lower sales and higher finance costs have led to a cut in earnings estimate. This could keep the stock, which is down 13 per cent from its highs in January, under pressure.

Muted show in Q3 FY24 was the trigger for stock prices declining. Revenues in the quarter fell by 22.6 per cent year-on-year (y-o-y) to Rs 1,194 crore and sequentially the fall was at 2.4 per cent. It is the company’s fourth consecutive