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Hot Pursuit
07-Nov-22
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Divis Lab slumps as Q2 PAT slides 18% YoY to Rs 493 cr
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Divis Laboratories tumbled 7.19% to Rs 3,475.90 after the pharma company reported 18.61% fall in consolidated net profit to Rs 493.60 crore in Q2 FY23 from Rs 606.46 crore posted in Q2 FY22.
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Revenue from operations declined 6.7% year on year to Rs 1,854.54 crore in the quarter ended 30 September 2022 as against Rs 1,987.51 crore recorded in the same quarter last year.
Profit before tax fell 19.01% to Rs 615.22 crore in Q2 FY23 as compared to Rs 759.62 crore posted in Q2 FY22.
Total expense increased by 5.81% year on year to Rs 1,319.40 crore in during the quarter under review. Cost of material consumed decreased 6.79% YoY to Rs 817.01 crore while employee benefit cost increased 3.63% YoY to Rs 232.12 in Q2 FY23.
On standalone basis, the company's net profit slid 19.71% to Rs 486.85 crore on 7.34% decline in revenue from operations to Rs 1,823.38 crore in Q2 FY23 over Q2 FY22.
Divis Laboratories is engaged in the manufacture of active pharmaceutical ingredients, intermediates and nutraceutical ingredients.
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