Divi's Lab shares down nearly 5%, profits falls 41% in Q1

Company has posted a net profit of Rs 301.81 crore for corresponding period of previous fiscal

Shares of Divi's Laboratories on Monday fell by nearly 5 per cent after the company reported 41.50 per cent dip in standalone net profit for the first quarter ended June.

The stock declined by 4.71 per cent to settle at Rs 686.90 on BSE. During the day, it went down by 5.61 per cent to Rs 680.35.

On NSE, shares of the company dipped 4.62 per cent to close at Rs 687.90.

In terms of volume, 2.84 lakh shares of the company were traded on BSE and over 24 lakh shares changed hands on NSE during the day.

Drug firm Divi's Laboratories on Saturday reported 41.50 per cent dip in standalone net profit at Rs 176.54 crore for the first quarter ended June 30, impacted by USFDA alert for a unit at its Visakhapatnam facility.

The company had posted a net profit of Rs 301.81 crore for the corresponding period of previous fiscal.

Standalone total revenue from operations stood at Rs 850.88 crore for the quarter under review. It stood at Rs 1,033.50 crore for the same period a year ago.