Tag: robust sales

Shares of The Hyderabad-based company Divi's Laboratories hit a record high of Rs 3,463, up 7 per cent on the BSE on Monday after the company reported a strong 45.6 per cent year-on-year (YoY) jump in its net profit at Rs 520 crore mainly on account of robust sales. It had reported a profit of Rs 356.78 crore for the corresponding quarter last year. The company reported a 21% year-on-year rise in revenue at Rs 1,749.3 crore in the quarter ended September, according to an exchange filing. Consolidated total income of the company stood at Rs 1,762.94 crore for the quarter under consideration. It was Rs 1,492.60 crore for the same period a year ago, it added. For the current quarter, Divi’s Labs witnessed a forex loss of Rs 16 crore against a gain of Rs 13 crore. Global research firm Jefferies has upgraded the stock to buy and has raised the target to Rs 3,772 from Rs 3,159 per share. Read more

Shares of Divi's Laboratories on Monday zoomed 18 per cent to a fresh 52-week high of Rs 3,228.05 on the BSE after reporting 80.61 per cent year-on-year (YoY) rise in consolidated net profit for the June quarter of 2020-21. The drug firm reported a net profit of Rs 492.06 crore for the quarter on account of robust sales. The company had report a profit of Rs 272.44 crore in the year-ago same period. Total income stood at Rs 1,747.80 crore during the quarter under review as against Rs 1,193.20 crore in April-June 2019-20, it added."The company has been able to have near-normal operations during the quarter and there was minimal impact due to COVID-19 pandemic," Divi's Laboratories said. "Divi’s Lab delivered all-time high sales/EBITDA/PAT for the quarter. Overall performance was led by volumes and did not include any business opportunity related to COVID-19 treatment. Research and brokerage firm Emkay Global Financial Services, HSBC and Motilal Oswal has recommended buying the shares.