Shares of Divi's Laboratories tanked 4.26 per cent to 4,777.3 per share on the BSE during Monday's intraday deals. This drop came despite the company reporting a 21 per cent year on-year (Y-o-Y) rise in net profit for the first quarter (Q1) of 2024-25 (FY25).
According to analysts, the pharmaceutical giant's Q1 performance was mixed, with revenue beating consensus estimates while net profit and earnings before interest, tax, depreciation, and amortization (Ebitda) missed consensus estimates.
Analysts at Nuvama Institutional Equities attributed the estimate miss to ongoing pricing headwinds in the active pharmaceutical ingredient (API) segment and muted nutraceutical sales. The company recorded flat growth in its nutraceutical business in Q1FY25 on a Y-o-Y basis.
Meanwhile, Divi's custom synthesis business continued to grow in double digits for the third straight quarter, contributing 49 per cent to sales and growing 46 per cent Y-o-Y.
This was driven by sales of Sacubitril (an antihypertensive drug) and Valsartan (an angiotensin receptor blocker) combination drugs, indicated for treating chronic heart failure in adults. The generics business grew 4 per cent Y-o-Y, showing its first reversal of growth trajectory after flat growth in 2023-24 (FY24).
This story is from the August 06, 2024 edition of Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the August 06, 2024 edition of Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Avoid partial payout: Buy health cover with fewer sub-limits
At a recent Confederation of Indian Industry (CII) summit, Satyajit Tripathi, member (distribution), Insurance Regulatory and Development Authority of India (Irdai), highlighted that grievances in general insurance, especially health insurance, mainly revolve around claim payments.
'Largecaps appear reasonably valued'
Investors entering equities should come in with a long-term horizon to ensure short-term fluctuations amid high valuations do not derail the wealth generation, says DEEPAK SHENOY, chief executive officer and founder of Capitalmind.
Sustained FPI activity lifts Sensex, Nifty
Equity benchmark index Sensex rebounded nearly 100 points to hit a lifetime closing high on Monday and Nifty scaled an intraday record level, propelled by bargain hunting in energy, utility and banking stocks amid sustained foreign fund inflows.
Investors may book partial profit: Brokerages
Analysts on Monday attributed the blockbuster debut of Bajaj Housing Finance Ltd (BHFL) on the bourses to its strong fundamentals and the brand 'Bajaj', and said it could emerge as a long-term wealth creator.
Interest, trust of investors humbling: Sanjiv Bajaj
Sanjiv Bajaj, chairman and managing director of Bajaj Finserv, on Monday said he expected 12-15 per cent credit growth in the housing finance industry, amid the strong tailwinds in the economy.
Trent may replace Bajaj Finserv in Sensexrejig in December
Bajaj Housing Finance Ltd's impressive stock market debut has brought cheer to the 100year-old Bajaj Group, but the conglomerate faces the prospect of Bajaj Finserv being removed from the benchmark Sensex index.
Sebi withdraws earlier statement on staff unrest
The Securities and Exchange Board of India (Sebi) on Monday said it was amicably addressing the concerns of its protesting employees on \"internal\" matters, as it withdrew an earlier press release that claimed that its staff's complaints were influenced by external elements.
The clash of 'will'power: The jury is still out
Following courtroom drama, experts analyse which one will dominate legal proceedings
FIRST LINE OF DEFENCE
Why New Delhi is underlining the role of border villages as custodians of India's frontiers
A fine balance
Markets in agriculture must be allowed to function