Divi's Labs Q3 PAT slips 8% to Rs 359 cr

On a consolidated basis, Divi's Laboratories' net profit declined 7.8% to Rs 359.09 crore in Q3 December 2019 (Q3 FY20) as against Rs 389.38 crore reported in Q3 December 2018 (Q3 FY19).

Net sales rose 2.7% year-on-year (YoY) to Rs 1,396.26 crore in Q3 FY20. The result was announced after market hours yesterday, 5 February 2020.

Profit before Tax fell 6.7% to Rs 487.32 crore YoY. Current tax fell 5.6% to Rs 122.31 crore during the period under review.

The United States Food and Drug Administration (USFDA) had conducted inspection in its firm's Unit-II at village Chippada, Bheemunipatnam district in Andhra Pradesh from 27 to 31 January 2020. The inspection has been concluded with zero observations.

 

Further, the company has commenced commercial operations in DC-SEZ unit at Bhuvangiri Yadari district in Telengana effective from 5 February 2020.

Divi's Laboratories' geographical segments include India (sales to customers within India) and other countries (sales to customers outside India).

Shares of Divi's Laboratories advanced 4.57% to Rs 2,054. The scrip hovered in the range of Rs 2,079.75 to Rs 1,933.25 so far.

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