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.
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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