Divis Laboratories Ltd is down for a fifth straight session today. The stock is quoting at Rs 2794.05, down 0.57% on the day as on 13:19 IST on the NSE. The benchmark NIFTY is down around 1.05% on the day, quoting at 17405.75. The Sensex is at 59104.86, down 1.17%.Divis Laboratories Ltd has added around 0.75% in last one month.Meanwhile, Nifty Metal index of which Divis Laboratories Ltd is a constituent, has eased around 4.95% in last one month and is currently quoting at 11700.4, down 0.34% on the day. The volume in the stock stood at 1.94 lakh shares today, compared to the daily average of 3.62 lakh shares in last one month.

The benchmark March futures contract for the stock is quoting at Rs 2801.65, down 0.84% on the day. Divis Laboratories Ltd tumbled 35.61% in last one year as compared to a 4.66% rally in NIFTY and a 12.97% fall in the Nifty Metal index.

The PE of the stock is 31.45 based on TTM earnings ending December 22.

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Net profit of Divi's Laboratories declined 66.00% to Rs 306.80 crore in the quarter ended December 2022 as against Rs 902.24 crore during the previous quarter ended December 2021. Sales declined 31.51% to Rs 1707.68 crore in the quarter ended December 2022 as against Rs 2493.24 crore during the previous quarter ended December 2021.

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Total income stood at Rs 1,821.93 crore in Q3 FY23, down 27.41% from Rs 2,509.86 crore recorded in the same period a year ago. Material consumption for this quarter came to be about 43% of sales revenue due to change in product mix.

Consolidated profit before tax dropped 57.86% to Rs 435.63 crore in the quarter ended 31 December 2022 as compared to Rs 1,033.66 crore posted in Q3 FY22.

Total expense decreased by 6.09% year on year to Rs 1,386.30 crore in Q3 FY23. Cost of material consumed was at Rs 604.40 crore (down 32.93% YoY) and employee benefit expenses stood at Rs 238.88 crore (down 2.35% YoY) during the period under review.

On a standalone basis, the company net profit tumbled 65.73% to Rs 310.90 crore on 31.5% fall in revenue to Rs 1,689.83 crore in Q3 FY23 over Q3 FY22.

Divis Laboratories is engaged in the manufacture of active pharmaceutical ingredients, intermediates and nutraceutical ingredients.

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Divis Laboratories will hold a meeting of the Board of Directors of the Company on 3 February 2023.

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