Divi’s Labs shares drop 2% on brokerage downgrades post Q1 result. Should you buy, sell or hold?

Divi’s Laboratories on Monday saw a 49% year-on-year (YoY) fall in its consolidated net profit at Rs 356 crore for the quarter ended June 2023. The profit was below the ET Now poll estimate of Rs 407 crore. It was Rs 702 crore in the year-ago quarter. Revenue from operations during the first quarter dropped 21% to Rs 1,778 crore, compared with Rs 2,255 crore in the same quarter of last year.

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