BackDivi's Labs Q1 results: Net profit rises 26% to ₹702 crore
Divis Laboratories revenue from operations rose about 15% to ₹2,254 crore from ₹1,960.6 crore YoY
PremiumPharmaceuticals company Divis Laboratories on Friday reported a 26% rise in its consolidated net profit at ₹702 crore as compared to ₹557 crore in the same quarter last year. Meanwhile, its revenue from operations rose about 15% to ₹2,254 crore from ₹1,960.6 crore year-on-year (YoY).
Profit before tax (PBT) came in at ₹851 crore, up 4.5% over ₹814 crore in the year-ago quarter. Divi's Labs forex gain in Q1 FY23 rose to ₹56 crore as against the gain of ₹20 crore in Q1 FY22. It witnessed a rise in tax expense at ₹149 crore from ₹257 crore (YoY).
Shares of Divis Labs were trading about 3% lower on the BSE at ₹3,820 apiece on the BSE in Friday's afternoon deals. The pharma stock is down about 18% in 2022 (YTD) so far.
Divi's Laboratories Ltd is an of Active Pharmaceutical Ingredients (APIs) and Intermediates manufacture and is engaged in manufacture of leading generic compounds Nutraceutical ingredients and custom synthesis of APIs and intermediates for global innovator companies.
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