Divi's Lab sinks 13%, hits 29-mth low as Q3 profit falls more than expected

In Q3FY23, Divi's Lab reported a 66 per cent year-on-year decline in its consolidated net profit at Rs 306.80 crore, on higher than expected in fall in revenue

Shares of Divis Laboratories tanked 13 per cent to hit a 29-month low of Rs 2,830 on the BSE in Friday’s intra-day trade as the company posted weak results for the December quarter (Q3FY23) disappointing investors. 

The stock of the pharmaceutical company was quoting at its lowest level since August 2020. In comparison, the S&P BSE Sensex was up 1 per cent at 60,543 at 02:12 pm.

In Q3FY23, Divis Labs reported a 66 per cent year-on-year (YoY) decline in its consolidated net profit at Rs 306.80 crore, on higher than expected fall in revenue. The company’s consolidated