Divi's Lab slumps after earnings lag estimates

Reuters

Reuters Market Eye - Shares of Divi's Laboratories Ltd slump 4.1 percent, heading towards their biggest single-day fall since May 21, 2013, after the company's Jan-March net profit rose by 6 percent to 1.9 billion rupees, lagging some analysts estimates. The drugmaker's operating margin fell to 35 percent from 39 percent. Analysts say management's focus has been more on its Vizag unit, which is awaiting an inspection by the U.S. Food and Drug Administration. (abhishek.vishnoi@thomsonreuters.com / abhishek.vishnoi.thomsonreuters.com@reuters.net)