Divi's Laboratories surges 6%, hits a record high on strong Q2 numbers

Q2FY21 EBITDA margins expanded 843 bps YoY to 42.4 per cent due to significantly better gross margin performance and lower other expenditure.

Shares of Divi's Laboratories hit a record high of Rs 3,432.70, up 6 per cent on the BSE in the early morning trade on Monday after the company reported a strong 45.6 per cent year-on-year (YoY) jump in its net profit at Rs 520 crore, on the back of healthy operational performance for September quarter (Q2FY21). The stock of the pharmaceutical company surpassed its previous high of Rs 3,888, touched on September 18, 2020.

In Q2FY21, the company’s revenues grew 21 per cent YoY to Rs 1,749 crore. EBITDA (earnings before interest, taxes, depreciation, and amortisation) margins expanded 843 bps YoY