Pharma player, Laurus Labs, reported really outstanding numbers for the Jun-20 quarter with net profits surging 11-fold to Rs.172 crore. Even on a sequential basis, profits were up 56%. The spurt in profits was driven by a 77% growth in total revenues to Rs.974 crore. Growth in the formulations business was largely driven by low and middle income countries.

It may be recollected that Laurus is one of the leading manufacturers of Hydroxychoroquine, an anti-malarial drug used to treat COVID-19. India has been one of the major exporters of this drugs. The company has been one of the start performers in the recent months and now it has also decided to split the stock par value from Rs.10 to Rs.2.