Divi's Labs Q2 Results: Profit falls 19% YoY to Rs 494 crore

Divi's Laboratories on Monday reported an 18.5% year-on-year (YoY) drop in its September quarter consolidated profit after tax to Rs 494 crore.

The Hyderabad-based drugmaker disappointed the Street which was estimating a profit of Rs 630 crore.

The company's total revenue dipped 3.6% YoY to Rs 1,935 crore for the quarter ended 30th September as against a consolidated total income of Rs 2,007 crore in the corresponding quarter of the previous year.

On a standalone basis, the company's PAT was at Rs 487 crore as against Rs 606 crore seen in the year-ago period.

During the quarter, Divi's said it recorded forex gain of Rs 30 crore as against a loss of Rs 7 crore in Q2 of last year.

The drugmaker's consolidated EBITDA was down 24.1% YoY at Rs 621 crore and the EPS was down to Rs 18.6 in Q2 from Rs 22.84 in the year-ago period.

Consolidated margins stood at 33.5% and were down 767 bps on a YoY basis.

Divi's shares were trading 7% lower at Rs 3,482 after the announcement of the quarterly numbers.