Home / Markets / Stock Markets /  Divi's Labs shares tank 13%, hit 52-week low as Q3 net profit falls 66%

Shares of Divi's Laboratories Ltd tanked more than 13% to hit a 52-week low level of 2,796 apiece on the BSE in Friday's session after the pharma company reported its third quarter net profit below analysts' estimates. The Hyderabad-based company's consolidated net profit came at 307 crore, which was down about 66% as compared to 902 crore the same quarter last year.

Meanwhile, the drugmaker's consolidated revenue from operations for the company during the quarter under review declined over 31% from last year to 1,708 crore as against 2,493 crore, while inventory costs in the third quarter were at 123 crore. The company said that Material consumption for this quarter came to be about 43% of sales revenue due to change in product mix.

Divi's Labs makes active pharmaceutical ingredients which are key biologically active elements in a drug that help with the desired health effects. The company also makes chemical substances used to make drugs. The pharma stock has declined more than 32% in a year's period.

For the 9-month period ended 31st December, 2022, the company said it earned a profit after tax (PAT) of 1,502 crore on a total income of 6,099 crore, as against a PAT of 2,066 crore on a total income of 6,503 crore during the corresponding previous period.


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