Divi's Lab turns volatile after Q1 results

Divi's Laboratories rose 3.11% to Rs 955.50 at 14:26 IST on BSE after net profit rose 4.4% to Rs 174.71 crore on 10.1% growth in net sales to Rs 515.88 crore in Q1 June 2013 over Q1 June 2012.

The Q1 result was announced on Saturday, 3 August 2013.

Meanwhile, the S&P BSE Sensex was up 38.18 points or 0.2% at 19,202.20.

On BSE, 10,779 shares were traded in the counter as against average daily volume of 12,660 shares in the past one quarter.

The stock was volatile. The stock lost as much as 2.34% at the day's low of Rs 905 so far during the day, which is also its 52-week low for the counter. The stock rose as much as 3.37% at the day's high of Rs 958 so far during the day. The stock had hit a record high of Rs 1,233 on 30 November 2012.

The stock had underperformed the market over the past one month till 2 August 2013, sliding 5.24% compared with the Sensex's 1.54% fall. The scrip had also underperformed the market in past one quarter, declining 14.4% as against Sensex's 2.9% slide.

The large-cap company has equity capital of Rs 26.55 crore. Face value per share is Rs 2.

Divi's Laboratories' tax provision rose 14.89% to Rs 54 crore in Q1 June 2013 over Q1 June 2012. The company reported a foreign exchange (forex) gain of Rs 43 crore during the quarter, as against forex gain of Rs 30 crore in corresponding quarter last year.

Divi's Laboratories' product portfolio comprises generic active pharmaceutical ingredients (APIs) and custom synthesis of APIs, intermediates and specialty ingredients for innovator pharma giants. Custom synthesis also includes peptide building blocks (protected amino acids).

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