Pharmaceutical giant Divi’s Laboratories saw a significant decline in its consolidated net profit, reporting a 29.50 percent year-on-year decrease to Rs 348 crore for the July-September quarter.
The drop was attributed to a higher base from the exceptional performance of the COVID-19 drug Molnupiravir in the previous fiscal year.
Despite challenges, the company’s management expressed optimism, highlighting the progress of its major custom synthesis projects.
The stock initially dipped over 4% but later stabilized, showing a minor increase of 0.19% at the time of reporting.
