Divi's Lab Q2 Results: Profit falls 29% YoY to Rs 348 crore, misses estimates
Divi's Labs on Monday reported a 29% fall in its consolidated net profit at Rs 348 crore for the quarter ended September 2023. The same stood at Rs 493 crore a year ago.
The profit figure was below the ET Now poll estimate of Rs 424 crore.
Revenue from operations rose 3% year-on-year (YoY) to Rs 1,909 crore in the July-September period.
It was Rs 1,855 crore in the corresponding quarter of the previous year.
Consolidated EBITDA during the quarter came in at Rs 479 crore, and margins were at 25.1%.
The profit before Tax (PBT) for the quarter amounted to Rs 469 crore, down 24% compared with a PBT of Rs 615 crore in the same quarter of the last year.
Consolidated total income of the company was also higher by 3% YoY to Rs 1,995 crore in the reporting quarter as against Rs 1935 crore in the year-ago quarter.
For the second quarter, the company had a forex gain of Rs 11 crore as against a gain of Rs 31 crore during the corresponding quarter of last year.
For the half-year ended September 2023, the company earned a consolidated total income of Rs 3,854 crore, showing a decline of 18% as against a consolidated total income of Rs 4278 crore during the previous half-year.
PAT for the first half came to Rs 704 crore, which was also down 41%, compared with Rs 1,196 crore for the same period last year. The current half's forex gain was at Rs 14 crore versus a gain of Rs 87 crore during the corresponding period last year.
On Monday, the company's shares were trading 0.43% higher at Rs 3,365 on NSE.
