Divi's Labs Q3 result: Net profit falls 66% YoY to Rs 307 crore

Divi's Laboratories Ltd's net profit declined 66 percent on-year to Rs 307 crore in the third quarter of the financial year 2022-23 (Q3FY23), the pharmaceutical company said on February 3.

The company had recorded a profit of Rs 902 crore in the same quarter of the previous year. Net profit was down 38 percent from Rs 494 crore in the September quarter of FY23.

The company's revenue from operations came in at Rs 1,708 crore, 32 percent lower from Rs 2,494 crore in the year-ago period. On a sequential basis, revenue was down 8 percent. The company's revenue in the September quarter was at Rs 1,855 crore.

The earnings before interest, depreciation, tax and amortization (EBIDTA) were Rs 408 crore, 63 percent down from Rs 1,097 crore in the year-ago period.

The EBIDTA margin for the quarter was recorded at 23.9 percent, 2,010 basis points lower than the 44 percent reported in the third quarter of the last fiscal. EBITDA margin was 33.5 percent in the September 2022 quarter.

One basis point is one-hundredth of a percentage point.

Divi's lab shares were trading at Rs 2,860 per share on the NSE at 2.33 p.m., 9.9 percent down post Q3FY23 results announcement.