Divis Laboratories Q2 results: Profit and EBITDA jump over 45% beating Street estimates

Pharmaceutical major Divi's Laboratories reported its results for the July to September 2024 quarter in which it beat CNBC-TV18 poll estimates across parameters with profit and EBITDA rising more than 45% on a year-on-year basis, the firm’s financial results released on November 9 showed.

Divi's Laboratories profit for the second quarter of the fiscal came in at ₹510 crore, up 46.5% from ₹348 crore in the same quarter last year. The CNBC-TV18 poll had pegged the profit at ₹489 crore.

The company's Q2 revenue at ₹2,338 crore also beat the poll projection of ₹2,240 crore. This implies a growth of 22.5% from the corresponding quarter last year in which it had posted revenue at ₹1909 crore.

The firm's EBITDA or earnings before interest, taxes, depreciation, and amortisation has seen an year-on-year growth of 49.5% to ₹716 crore as against ₹479 crore in the September 2023 ended quarter. This is also almost 7% higher than the estimate of ₹670 crore.

Divi's Laboratories' Q2 margin has seen a massive growth of 500 basis points year-on-year to 30.6% from 25% in the year-ago period. This compares 30% margin expectation of analysts polled by CNBC-TV18.

For the half year ended September 30, the company earned a consolidated total income of ₹4,640 crores as against a consolidated total income of ₹3,854 crores during the corresponding half-year of the previous year.

Profit before tax (PBT) for the current half year came to ₹326 crore as against ₹961 crore for the corresponding half year of the previous year. PAT for the current half year came to ₹940 crore as against ₹704 crore for the corresponding half year of the previous year. For the current half-year, we had a forex gain of ₹28 crore against a gain of ₹14 crore for the corresponding half year of the previous year.