Copyright Reuters
Consolidated net profit rose to 6.89 billion rupees ($78.39 million) in the quarter ended September 30 from 5.10 billion rupees a year earlier, the Hyderabad-based company said. Sign up here. That was above analysts' average estimate of 5.87 billion rupees, according to data compiled by LSEG. Revenue from operations rose 16% to 21.15 billion rupees, compared with analysts' estimates of 24.86 billion rupees. Indian generic drugmakers, which earn a significant chunk of their revenue from the United States, have been struggling with weak pricing in the world's top economy amid stiff competition. Divi's, one of India's largest manufacturers of active pharmaceutical ingredients (API), exports to more than 100 countries and counts the United States and Europe as its top markets. APIs are key chemical components in a drug that produce the intended therapeutic effects. ($1 = 87.8950 Indian rupees) Reporting by Komal Salecha in Bengaluru; Editing by Subhranshu Sahu
