homemarket Newsstocks NewsDivi's Labs Q3 Earnings: Profit jumps 92% to Rs 902 crore, beats Street estimates
Divi's Labs Q3 Earnings: Profit jumps 92% to Rs 902 crore, beats Street estimates
Divi's Labs Q3 results: The pharma company reported a 91.7 percent year-on-year surge in net profit to Rs 902.2 crore for the December quarter, exceeding Street estimates.
Divi's Laboratories on Friday reported a net profit of Rs 902.2 crore for the October-December period, beating Street estimates. The quarterly net profit was up 91.7 percent on a year-on-year basis.
The drug maker's revenue increased 46.5 percent on year to Rs 2,493.2 crore, according to a regulatory filing.
Analysts in a CNBC-TV18 poll had estimated the company's quarterly net profit at Rs 618.4 crore and revenue at Rs 2,065 crore.
Divi's Labs reported Rs 1,097 crore in earnings before interest, taxes, depreciation and ammortisation (EBITDA) for the third quarter of the current financial year, as against Rs 691 crore for the corresponding period a year ago.
Its EBITDA margin in the quarter ended December 2021 improved to 44 percent, from 40.6 percent in the year-ago period.
Cyndrella Carvalho of Centrum Broking said the company's Q3 performance was strong, with some support from Molnupiravir.
"The Street has been worried about Molnupiravir sales... The recovery on the base side of the generics and CRAMS (contract research and manufacturing services), apart from Molnupiravir, is crucial to look at, which is visible to an extent in Q3," she said.
Divi's shares failed to stay in the green after the earnings announcement, finishing the day down 0.6 percent at Rs 4,289 apiece on BSE.
(Edited by : Sandeep Singh)
First Published: Feb 11, 2022 12:41 PM IST
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