Pharma major Divi's Laboratories on February 10 reported a 17 percent year-on-year (YoY) rise in its consolidated net profit to Rs 358 crore for the October-December quarter of the current financial year.
The company reported a profit of Rs 306 crore in the same period last year.
Revenue came in at Rs 1,855 crore up 8.6 percent from the year-ago quarter numbers of Rs 1,708 crore.
Operational performance also remained weak as the company's earnings before interest, taxes, depreciation and amortization (EBITDA) came in at Rs 479 crore, up around 19.6 percent from Rs 409 crore. The EBITDA margin also rose to 26.4 percent against 24 percent in the base period.
The board has also approved the appointment of Devendra Rao as Additional Director designated as ‘Whole-time Director (Manufacturing), for a term of 5 years from February 10. The company's board has approved the reappointment of Sunaina Singh as an Independent Director for a second term of five years effective from March 28, 2024.
Forex gain for the current 9-month accounted for Rs 32 crore as against Rs 134 crore during the previous 9-month period. Material consumption for this quarter came to be about 39 percent of sales revenue.
The company is engaged in the manufacture of Active Pharmaceutical Ingredients, Intermediates and Nutraceutical Ingredients.
(This is a developing story. Please come back for more)
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