MUMBAI: Divi’s Laboratories today reported a 25 per cent year-on-year rise in its net profit to Rs 488 crore for the quarter ended March, which was above analysts’ estimates.
The Hyderabad-based drugmaker’s total revenues in the quarter rose 20 per cent on-year to Rs 1,741 crore, which was slightly above analysts’ estimates.
For the financial year ended March, the company’s board approved a final dividend worth Rs 20 per share.
The company benefited from a low base in the year-ago quarter, which was hit by the national lockdown. However, the company’s earnings have shown strong traction in 2020-21 due to a surge in demand for bulk drugs caused by the pandemic.
The active pharmaceutical ingredient maker’s profit before tax in the quarter rose 37 per cent year-on-year to Rs 652 crore.
During the year, we have also taken up another capex program with an estimated investment of Rs 400 crore for fast-tracking a customs synthesis project. A part of the project has been completed and became operational and the rest of the capex will be completed during the early part of the next financial year, the company said.
On Friday, shares of Divi’s Lab ended 1.1 per cent higher at Rs 4,125 on the National Stock Exchange.