Divi's Lab Q2 Results: Profit below forecasts and declines 29% YoY to Rs 348

6 Nov 2023 , 02:19 PM

Divi’s Labs announced on Monday that its consolidated net profit for the quarter that ended in September 2023 dropped by 29% to Rs 348 crore. A year ago, the same was valued at Rs 493 crore.

From July to September, operating revenue increased by 3% YoY to Rs 1,909 crore. In the same quarter of the prior year, it was Rs 1,855 crore.

During the quarter, consolidated EBITDA was Rs 479 crore, with 25.1% margin.

Compared to the same quarter last year, when PBT was Rs 615 crore, the profit before tax (PBT) for the current quarter was Rs 469 crore, a 24% decrease.

The company’s consolidated total income increased by 3% YoY to Rs 1,995 crore in the reporting period compared to Rs 1935 crore in the same quarter last year.

The company’s currency gain for the second quarter was Rs 11 crore, compared to a gain of Rs 31 crore for the same period in the previous year.

The company’s consolidated total income for the half-year ending September 2023 was Rs 3,854 crore, an 18% decrease from the consolidated total income of Rs 4278 crore for the same period the previous year.

PAT for the first half of this year was Rs 704 crore, down 41% from Rs 1,196 crore during the same period in the previous year. The forex gain for the current half was Rs 14 crore, as opposed to a gain of Rs 87 crore for the same time in the previous year.

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