HomeBUSINESSDivi's Labs Q1 results: Net profit rises 26% to ₹702 crore

Divi’s Labs Q1 results: Net profit rises 26% to ₹702 crore

February 28, 2023

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Pharmaceuticals company Divis Laboratories on Friday reported a 26% rise in its consolidated net profit at ₹702 crore as compared to ₹557 crore in the same quarter last year. Meanwhile, its revenue from operations rose about 15% to ₹2,254 crore from ₹1,960.6 crore year-on-year (YoY).

Divi’s Labs forex gain in Q1 FY23 rose to ₹56 crore as against the gain of ₹20 crore in Q1 FY22. It witnessed a rise in tax expense at ₹149 crore from ₹257 crore (YoY).

Shares of Divis Labs were trading about 3% lower on the BSE at ₹3,820 apiece on the BSE in Friday’s afternoon deals. The pharma stock is down about 18% in 2022 (YTD) so far.

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