Divis Laboratories Ltd's Q2FY17 standalone net profit declines 24.58% yoy to Rs.224 crore : Misses Estimates

India Infoline Research Team | November 12, 2016 14:03 IST

Divis Laboratories Ltd Q2FY17

Standalone Results Q2FY17: (Rs. in crore)

Q2FY17 YoY (%)
Revenue 1,005 3.4
EBITDA 291 [22.6]
EBITDA Margin (%) 29 [972]
Net Profit (adjusted) 224 [24.6]
***EBITDA margin change is bps

Divi’s Laboratories Ltd’s Q2FY17 standalone numbers misses Bloomberg estimates. Revenue for the period came in 10.5% below estimate of Rs 1,124 cr. Also, reported net profit for the period came in 26.5% below the estimate of Rs 305 cr.
Revenue for the quarter increased by 3.4% yoy to Rs 1,005 cr.

EBITDA declined by 22.6% yoy to Rs 291 cr while EBITDA margins dipped 972 bps yoy to 29%. Decline was on account of 93% yoy jump to Rs 165 cr in employee cost (one time ex-gratia payment of Rs 79 cr) and 32% yoy increase to Rs 164 cr in other expenses. 

Net profit dropped by 24.58% yoy to Rs 224 cr. This was because of 32% yoy drop in other income and 15% yoy increase in finance cost.
Technical View:

Divis Laboratories Ltd ended at Rs. 1237.5, down by 16.65 points or 1.33% from its previous closing of Rs. 1254.15 on the BSE.
The scrip opened at Rs. 1247 and touched a high and low of Rs. 1255.05 and Rs. 1230.3 respectively. A total of 196523(NSE+BSE) shares were traded on the counter. The stock traded above its 50 DMA.

BSE 1,134.80 [0.50] ([0.04]%)
NSE 1,132.35 [3.50] ([0.31]%)

***Note: This is a NSE Chart

 

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