India's Laurus Labs closes lower on fifth straight qtrly profit drop

Laurus Labs

25/04/2024 11:09

** Shares of Laurus Labs  LAUL.NS  close 2% lower to 425.9
rupees
    ** Co's March-qtr profit fell roughly 26.6% YoY, its fifth
straight quarterly profit drop
    ** Rival Glenmark Life Sciences  GLEM.NS  also posted Q4
profit drop on the day; its stock dropped after results
    ** Analysts' avg rating on LAUL stock is "hold", and is
"buy" on GLEM - LSEG data
    ** LAUL flips to YTD loss, down 1% so far this year; GLEM up
18% from last year

 (Reporting by Varun Vyas in Bengaluru)
 ((varunvyas.hebbalalu@thomsonreuters.com))