Laurus Labs tanks 9% post block deals

NEW DELHI: Shares of Laurus Labs declined over 9 per cent in Friday’s trade after a block deal on the counter. As per reports, around 12.70 per cent of equity changes hands in two blocks, where buyers and sellers of the trade were not immediately known.

However, a report by ET Now stated that Warburg Pincus and Fidelity Capital are likely sellers in the deal.

Earlier, Laurus Labs on April 30 said its consolidated profit after tax for the quarter ending March 31, 2020, was up 155 per cent to Rs 110 crore against Rs 43 crore during the same quarter last fiscal.


The consolidated revenue for the quarter was up by 32 per cent to Rs 839 crore as against Rs 635 crore in Q4 FY'19, a press release from the company said.

For the full 2019-20, the drug-maker posted Rs 255 crore profit after tax on Rs 2,832 crore revenues.

The shares of the company closed 9.88 per cent lower at Rs 440.50 on BSE.