 "Divis Laboratories hits record high on healthy Q1 results")
Divis Laboratories has rallied 5.5% to Rs 1,255, also its record high on the BSE, after the company reported 23% year on year jump in standalone net profit at Rs 302 crore for the quarter ended June 30, 2016 (Q1FY17), on the back of strong revenue growth. The pharmaceuticals company had registered a profit of Rs 245 crore in the same quarter year ago.
Total income from operations grew 25% at Rs 1,008 crore in Q1FY17 against Rs 809 crore in the corresponding quarter of last year.
Analysts on an average had expected profit of Rs 261 crore on revenues of Rs 936 crore.
The EBITDA (earnings before interest, depreciation and taxes) margin expanded 268 basis points to 40% from 37.32%.
At 10:17 am, the stock was up 5% at Rs 1,250 on the BSE, as compared to 0.12% rise in the S&P BSE Sensex. The trading volumes on the counter more than doubled with a combined 384,152 shares changed hands on the BSE and NSE.
Total income from operations grew 25% at Rs 1,008 crore in Q1FY17 against Rs 809 crore in the corresponding quarter of last year.
Analysts on an average had expected profit of Rs 261 crore on revenues of Rs 936 crore.
The EBITDA (earnings before interest, depreciation and taxes) margin expanded 268 basis points to 40% from 37.32%.
At 10:17 am, the stock was up 5% at Rs 1,250 on the BSE, as compared to 0.12% rise in the S&P BSE Sensex. The trading volumes on the counter more than doubled with a combined 384,152 shares changed hands on the BSE and NSE.
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