Divi's Labs gallops after robust Q2 numbers

Divi's Laboratories jumped 8% to Rs 1,102 at 11:33 IST on BSE after net profit jumped 73.72% to Rs 205 crore on 19.62% growth in total income to Rs 567 crore in Q2 September 2013 over Q2 September 2012.

The result was announced after market hours on Friday, 8 November 2013.

Meanwhile, the BSE Sensex was down 119.10 points, or 0.58%, to 20,547.05.

On BSE, 79,000 shares were traded in the counter compared with average volume of 23,167 shares in the past one quarter.

The stock hit a high of Rs 1,123.15 and a low of Rs 1,051.20 so far during the day. The stock hit a record high of Rs 1,233 on 30 November 2012. The stock hit a 52-week low of Rs 905 on 5 August 2013.

The stock had underperformed the market over the past one month till 8 November 2013, sliding 3.50% compared with the Sensex's 3.42% rise. The scrip had also underperformed the market in past one quarter, rising 5.18% as against Sensex's 9.99% rise.

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

Divi's Laboratories reported a foreign exchange (forex) gain of Rs 31 crore in Q2 September 2013 as against a forex loss of Rs 21 crore in Q2 September 2012.

Divi's Laboratories said it has capitalized fixed assets aggregating to Rs 120 crore in the first half of the fiscal year ending March 2014 (FY 2014).

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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