On May 25, Indian pharmaceutical company Divi's Laboratories Ltd reported a 67 percent increase in consolidated net profit to Rs 538 crore in the Jan-March quarter of FY24, up from Rs 321 crore in the same period a year before.
Revenue for the quarter increased by 18% from the previous year to Rs 2,303 crore. It was Rs 1,951 crore in the same time last year.
The Board also suggested a final dividend of Rs 30/- (i.e. 1,500 percent) each equity share with a face value of Rs 2/- for the fiscal year 2023-24, subject to member approval at the upcoming 34th Annual General Meeting.
EBITDA, or Earnings Before Interest, Tax, Depreciation, and Amortisation, grew to Rs 731 crore from Rs 473 crore in the same period last year. However, the EBITDA margin increased to 31.7 percent in the quarter, up from 25 percent the previous year.
Divi's Laboratories, founded in October 1990, is a pharmaceutical and biotechnology company that specializes in generic APIs, custom synthesis, and nutraceuticals. It is promoted by Dr. Murli K. Divi. Divi holds a global leadership position in CRAMS and Generic APIs. It focuses on therapeutic areas such as cardiovascular, anti-inflammatory, cancer, and central nervous system medications.
