Indian pharma major Divi’s Laboratories Ltd on May 25 reported a 67 percent rise in consolidated net profit to Rs 538 crore in the Jan-March quarter of FY24 from Rs 321 crore in the same period a year ago.
Revenue for the quarter grew 18 percent from last year to Rs 2,303 crore. It was Rs 1,951 crore in the same period a year ago.
The Board also recommended a final dividend of Rs 30/- (i.e. 1,500 percent) per equity share of face value Rs 2/- each for the financial year 2023-24, subject to approval of the members at the ensuing 34th Annual General Meeting (AGM).
EBITDA or Earnings Before Interest, Tax, Depreciation and Amortisation increased to Rs 731 crore from Rs 473 crore in the same period a year ago. EBITDA margin for the quarter though, expanded to 31.7 percent from 25 percent YoY.
Incorporated in October 1990, Divi’s Laboratories is pharmaceutical and Biotechnology company engaged in Generic API, Custom Synthesis and Nutraceuticals. It is promoted by Dr Murli K. Divi. Divi’s has global leadership position in CRAMS and Generic APIs. It is catering to therapeutic segments like Cardiovascular, Anti-Inflammatory, anti-cancer and Central nervous system drugs.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.