Divi’s Laboratories on Monday posted fiscal first quarter profit at Rs 356 crore, down 49.3 per cent in comparison to Rs 702 crore during the first quarter of FY23, missing estimates. It posted revenue from operations at Rs 1778 crore, down 21.2 per cent as against Rs 2255 crore during the corresponding quarter of last year. According to CNBC TV18 estimates, Divi’s Laboratories was expected to post Q1 profit at Rs 412.8 crore and the revenue during the quarter ended June 2023 was expected at Rs 2042.4 crore.
The company EBITDA stood at Rs 504 crore. The company posted total income at Rs 1859 crore, down 20.7 per cent as against Rs 2343 crore during the same period last year. However, the total expenses during Q1FY24 stood at Rs 1367 crore, down 8.3 per cent in comparison to Rs 1491 crore during the first quarter of FY23.
Divi’s Laboratories said that its forex gain for the current quarter amounted to ~ Rs 3 crore as against a gain of ~Rs 56 crore during the corresponding quarter of the last year.