Divis Laboratories soars after strong results

One of India’s leading multinational pharmaceutical companies, Divi’s Laboratories Limited has reported financial reports for Q3FY2019.  The company’s third quarter revenue grew 29.4% year on year to Rs 1,343 cr, while EBITDA grew 60.5% to Rs 523.3 crore  year on year. Profit after Tax (PAT), grew 68.9% to Rs 379.5cr in Q3FY19 on yoy basis.

Stocks in Divis Laboratories advanced for a third consecutive session on Monday. The stock has advanced near 8 percent in last one month.

Divis stock reacted positively with the result.  The stock is currently quoting at Rs 1603.70 up 4.74% on the day as on 2.35 pm on the NSE, while the benchmark Nifty is down around 6 points on the day, quoting at 10887.45 The Sensex is at 35503.06 up 33 points

Meanwhile, Nifty Pharma index declined 1.90 percent at 8,798.80.  Except Divis laboratories which is trading significantly higher, all the other constituents in the Nifty pharma index is trading in the red.

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