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Hyderabad, Nov. 1

Divi’s Laboratories Ltd’s consolidated net profit decreased 37 per cent to Rs 85 crore in the second quarter ended September 30, compared with Rs 136 crore in the corresponding quarter of the previous financial year. The total revenue decreased 31.7 per cent at Rs 227 crore (Rs 333 crore) due to decline in sales. The earnings per share stood at Rs 6.47 (Rs 10.35). The company’s operations were affected due to the ongoing de-stocking of the inventories by its customers across their supply chains. During the quarter, the Hyderabad-based company made a provision of Rs 54 crore towards the tax expenses of earlier years due to recent amendment to income-tax provisions for SEZ units.

– Our Bureau

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