Divi's Labs Q4 Results: Profits Fell, Missed Estimates
The company's net profit slumped 64% year-on-year to Rs 321 crore in the quarter ended March.
Divi's Laboratories Ltd.'s fourth-quarter profit fell, missing estimates.
The company's net profit slumped 64% year-on-year to Rs 321 crore in the quarter ended March, according to its exchange filing. That compares with the Rs 344 crore consensus estimate of analysts tracked by Bloomberg.
Sequentially, profit rose 5%.
Divi's Laboratories Q4 Key Highlights (YoY)
Revenue fell 23% to Rs 1,951 crore, compared to an estimate of Rs 1,848 crore.
Operating profit declined 56% to Rs 488 crore, against a forecast of Rs 527 crore.
Operating margins at 25% versus 43.9%. Analysts had estimated it at 28.5%.
The board recommended a dividend of Rs 30 per share.
In the exchange filing, the company said, "This financial year, our total income is about 11% lower than the previous financial year because of a significantly lower volume of covid situational opportunity."
Shares of Divi's Labs closed 1.86% higher on Friday, a day prior to the results, compared to a 0.48% rise in the benchmark Sensex.