Divi's Labs Q1 Results: Profit nearly halves to Rs 356 crore on YoY basis, misses estimates
Divi's Laboratories on Monday saw a 49% year-on-year (YoY) fall in its consolidated net profit at Rs 356 crore for the quarter ended June 2023. The profit was below the ET Now poll estimate of Rs 407 crore.
It was Rs 702 crore in the year-ago quarter. Revenue from operations during the first quarter dropped 21% to Rs 1,778 crore, compared with Rs 2,255 crore in the same quarter of last year.
On a sequential basis, net profit rose 11% from Rs 321 crore clocked in the preceding March quarter. Revenue from operations declined 9% quarter-on-quarter (QoQ).
The company has reported an EBITDA (earnings before interest, tax, depreciation and amortisation) at Rs 504 crore, while margins came in at 28.3% during the June quarter. Profit before tax for the current quarter amounted to Rs 492 crore, down 42% from Rs 852 crore reported in the corresponding quarter of the last year.
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