Divi's Labs Net Profit Slips By 65% YoY In Q3FY23

Hyderabad-based Divi’s Laboratories has reported its earnings for the third quarter and has reported a 27.4 per cent slump year on year in its consolidated revenue which stood at Rs 1,822 crores as against total revenue of Rs 2,510 crores during the corresponding quarter of last year.

The company's net profits slid by 65.9 per cent year on year to Rs 307 crores for Q3FY23 versus Rs 902 crores recorded in the same quarter of the previous year.

The company's total expenses decreased by 6 per cent YoY to Rs 1,386 crores against Rs 1,476 crores in the corresponding quarter of last year.

For the 9-month period ended 31st December 2022, the company reported a PAT of  Rs 1,502 crores on a total consolidated revenue of Rs 6,099 crores, as against a PAT of Rs 2,066 crores on a total income of Rs 6,503 crores during the corresponding previous period.  

The company's stock closed 11.71 per cent lower on Friday at Rs 2,884.45 per scrip, down by Rs 382.70.