Divi's Labs down after poor numbers

Divi’s Labs is currently the top loser on the BSE, down almost 7% at Rs.1015, with an intra day low at Rs.1011.

The stock is witnessing selling after it declared its Q4FY13 wherein it posted a set of disappointing numbers. Its consolidated net profit slumped 17% (YoY) at Rs.180 crore on a 8% decline in total income at Rs.665 crore.  A forex loss of Rs.8 crore did not help the bottomline. Due to continued shortage of power in Andhra Pradesh the company had to rely on purchased power which comes at a higher cost and that too dented the margins.