Divis Laboratories’ net profit declined 29 percent at ₹348 crore in the second quarter of the current financial year ended September 30, 2023, against ₹493 crore in the corresponding quarter of the previous financial year. The total revenue of the Hyderabad-based company, however, grew 3 per cent at ₹1,909 crore, compared to ₹1,855 crore in the year-ago period.
In the first six months of FY24, the drug-maker’s net profit decreased 41 per cent to ₹704 crore from ₹1,196 crore in the same period previous year. The revenue, too, fell to ₹3,854 crore from ₹4,278 crore. Divis scrip gained 4.65 per cent on the Bombay Stock Exchange on Monday to end at ₹3,505.70.