The credit rating agency has affirmed its rating on the short-term credit facilities of Laurus Labs at "CARE A1+”.

Laurus Labs is a fully integrated pharmaceutical and biotechnology company, with a leadership position in generic active pharmaceutical ingredients (APIs) and a major focus on anti-retroviral, oncology drugs, cardiovascular, gastro and hepatitis C therapeutics. The company also develops and manufactures oral solid formulations, provide contract research and manufacturing services (CRAMS) to global pharma companies.

The company’s consolidated net profit dropped 26.58% to Rs 75.61 crore in Q4 FY24 as compared with Rs 102.98 crore in Q4 FY23. Revenue from operations increased 4.26% to Rs 1,439.67 crore in Q4 FY24 as compared with Rs 1,380.90 crore posted in corresponding quarter last year.