Divi's Laboratories Q2 profit and revenue rise year-on-year; posts ₹63 crore forex gain

Divi's Laboratories Ltd. reported its earnings for the September quarter, delivering a strong performance that surpassed estimates on all fronts and showed improvement across all key parameters on a year-on-year basis.

The company's revenue rose 16% year-on-year to ₹2,715 crore, compared to ₹2,338 crore in the same quarter last year, exceeding the CNBC-TV18 poll estimate of ₹2,608 crore.

Net profit increased 35% year-on-year to ₹689 crore from ₹510 crore, also ahead of Street estimates of ₹612 crore.

During the quarter, Divi's recorded a foreign exchange gain of ₹63 crore, compared to a gain of ₹29 crore in the corresponding period last year.

Operating profit or EBITDA grew 24% to ₹888 crore from ₹716 crore, surpassing the CNBC-TV18 estimate of ₹823 crore.

EBITDA margin expanded by 210 basis points to 32.7%, up from 30.6% a year ago, and higher than the poll estimate of 31.5%.

Shares of Divi's Laboratories are off the day's high, currently trading 3.42% lower at ₹6,656.70. The stock has risen 10% in the last one month.