Divi’s Laboratories has surged 10% at Rs 1,118 after reporting a strong 73.7% year-on-year (yoy) jump in standalone net profit at Rs 205 crore for the quarter ended September 30, 2013 (Q2FY14) on back of higher sales and forex gain. The pharmaceutical company had profit of Rs 118 crore in a year ago quarter.
Net sales of the company for the quarter grew by 19.7% at Rs 566 crore on yoy basis. EBITDA margin improved substantially to 43.95% from 34.91% during the recently concluded quarter.
The company earned forex gain of Rs 31 crore in Q2FY14 as against a loss of Rs 21 crore during the corresponding quarter of last year, Divi’s Lab said in a statement.
The stock opened at Rs 1,051 and hit a high of Rs 1,123 on BSE. A combined nearly 550,000 shares have already changed hands on the counter till 0945 hours against an average sub 500,000 shares that were traded daily in past two weeks on BSE and NSE.
Net sales of the company for the quarter grew by 19.7% at Rs 566 crore on yoy basis. EBITDA margin improved substantially to 43.95% from 34.91% during the recently concluded quarter.
The company earned forex gain of Rs 31 crore in Q2FY14 as against a loss of Rs 21 crore during the corresponding quarter of last year, Divi’s Lab said in a statement.
The stock opened at Rs 1,051 and hit a high of Rs 1,123 on BSE. A combined nearly 550,000 shares have already changed hands on the counter till 0945 hours against an average sub 500,000 shares that were traded daily in past two weeks on BSE and NSE.
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