Home / Markets / Stock Markets /  Two Saurabh Mukherjea portfolio stocks - Divis Labs, Tarsons Products - fall sharply after Q2 results

Shares of Divi's Laboratories plunged sharply from day's high to the negative territory as the stock fell over 7% to 3,484 apiece on the BSE in Monday's afternoon deals after reporting its second quarter earnings for the current fiscal year (Q2 FY23). 

Divi's Labs' net profit for the second quarter fell about 18% to 493.6 crore as compared to 606.5 crore in the year ago quarter. Meanwhile, its revenue from operations also declined to 1,854 crore, down over 7% from 1,987 crore year-on-year (YoY).

The pharma major said that it had a forex gain of 31 crore during the quarter as against a loss of 7 crores during the corresponding quarter of last year.

Well-known money manager Saurabh Mukherjea is the Founder and Chief Investment Officer (CIO) of Marcellus Investment Managers. Divi's Labs and Tarsons Products stocks are part of Marcellus Investment's Little Champs Portfolio.

Meanwhile, Tarsons Products shares were also trading more than 7% lower to 719 apiece on the BSE after reporting a weak set of results for the quarter ended September 2022.

The revenue from operations of the supplier of plastic labware products fell 6% on year-on-year basis to 71 crore while its net profit during the quarter under review slipped 14% to 21.5 crore.

Commenting on the Q2 FY23 performance of the company director Rohan Sehgal said: “Our revenues for Q2FY23 were down by 6% ona Y-o-Y basis and up by 4% on a Q-o-Q basis. If we compare on a like to like basis i.e. negating the high base of covid related revenues in H1FY22, our conventional business has shown a substantial growth. With addition in our product portfolio and wide network of distributors across India, we are confident of sustaining our growth in the domestic conventional business.

“Our capacity expansion is on track and the commissioning of the upcoming facility is expected to be in H1 FY24. We are confident of ramping up this facility in a short span," he added.

Tarsons Products shares got listed on stock exchanges BSE and NSE in November last year and the stock is down about 11% since its market debut.

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