Divi's Labs net profit rises 15% to Rs 358 crore in December quarter

Hyderabad-based active pharmaceutical ingredients (API) and nutraceutical maker on Saturday reported net profit of Rs 358 crore, marking an upside of 15 per cent from 310 crore during the same period last year.

Its revenue from operations 7 per cent to Rs 1,880 crore versus Rs 1,690 crore in the year ago period.

Divi's Labs' earnings before interest, taxes, depreciation, and amortisation (EBITDA) also known as operating profit jumped 20 per cent to Rs 489 crore and its operating profit margin improved 240 basis points to 26.4 per cent.

"For the 9-month period ended December 31, 2023, the company earned profit of Rs 1,062 crore on a total income of Rs 5,804 crore, as against a profit of Rs 1,502 crore on a total income of Rs 6,099  crore during the corresponding previous period. Forex gain for the current 9-month accounted to Rs 132 crore as against Rs 134 crores during the previous 9-month period," the company said in a press release.

Meanwhile, the company said that it has re-appointed Sunaina Singh as an independent director for a second term of five years effective March 28, 2024.  The company also approved appointment of Dr S Devendra Rao as additional director designated as whole-time director.

Divi's Labs shares ended 0.9 per cent lower at Rs 3,651 ahead of earnings announcement on Friday.