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Divi's Lab tumbles after muted Q1 outcome

Capital Market 

Divis Laboratories fell 6.20% to Rs 1562.3 at 10:46 IST on BSE after consolidated net profit rose 1.8% to Rs 272.44 crore on a 16.8% rise in net sales to Rs 1,162.88 crore in Q1 June 2019 compared with Q1 June 2018.

On standalone basis, the company's net profit was almost flat at Rs 267.35 crore while the net sales rose 14.5% to Rs 1139.92 crore. The result was announced on Saturday, 10 August 2019.

Meanwhile, the S&P BSE Sensex was up 17 points or 0.04% to 37598.47.

On BSE, 57000 shares were traded in Divi's Laboratories counter, compared to a 2-week average of 15000 shares. The stock hit a high of Rs 1649 and a low of Rs 1512.1 so far during the day. The stock hit a 52-week high of Rs 1769 on 2 May 2019 and hit a 52-week low of Rs 1079.8 on 14 August 2018.

Divi's Laboratories is engaged in manufacturing and sale of active pharmaceutical ingredients (APIs) and intermediates.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, August 13 2019. 10:54 IST