Divi's Labs slides after weak Q2 numbers

Shares of Divi's Laboratories were trading 1% lower at Rs 1670.25.

On consolidated basis, the company's net profit declined 11.6% to Rs 356.78 crore in Q2 September 2019 over Q2 September 2018. Net sales rose 9.2% to Rs 1445.57 crore on YoY basis in Q2 September 2019. The result was announced after market hours yesterday, 5 November 2019.

The pharmaceutical company reported a 75.47% decline in forex gain to Rs 13 crore in Q2 2019 as against Rs 53 crore in Q2 2018.

The company said that its capex programs at DC-SEZ near Hyderabad and DCV-SEZ near Visakhapatnam are going as per schedule and major part of these projects are expected to be completed by end of the year 2019-20.

 

Meanwhile the S&P BSE Sensex was trading 0.31% lower at 40,124.73.

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

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