Divi’s Laboratories on Saturday reported a 45.63 percent year-on-year (YoY) growth in consolidated net profit at Rs 519.59 on a 21% increase in net sales at Rs 1,749.30 crore in Q2 FY21.
The company had posted a net profit of Rs 519.58 crore for the corresponding period of the previous fiscal, Divi’s Labs said in a filing to BSE.
Divi’s Labs has been one of the best performing pharma companies this year, as far as market returns are concerned. It has run up nearly 74 percent year to date while one-year returns stand at 90 percent.
For the current quarter, the company has incurred a loss of Rs 16 crore as against a gain of Rs 13 crore during the corresponding quarter of last year.
About its Capex programs, Divi’s Labs said: “We have capitalized assets of Rs 615 crore during the quarter and the total capitalization done during the half-year amounted to Rs 830 crore. We expect to complete the ongoing capex programs by the end of the financial year. Apart from the existing Capex programs, the company is taking up a new capex for an aggregate amount of Rs 400 crore for meeting new business opportunities in the custom synthesis projects; and needed to be completed on the fast track.”
On a year-to-date (YTD) basis, the stock has zoomed 75.38% while the benchmark S&P BSE Sensex rose 1.55% during the same period.