News Karnataka
Tuesday, April 16 2024
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Divi’s Lab Posts 17% Rise in Q3 Net Profit to Rs 358 Crore

Divi's Lab Profit
Photo Credit : IANS

Mumbai: Pharma major Divi’s Laboratories on Saturday reported a 17 per cent increase in its consolidated net profit to Rs 358 crore for the October-December quarter of the current financial year compared to the corresponding figure of Rs 306 crore in the same period of the previous year.

The company’s total revenue for the third quarter was 8.6 per cent higher at Rs 1,855 crore compared to the same period last year.

The pharma firm’s earnings before interest, taxes, depreciation and amortization (EBITDA) worked out to Rs 479 crore, which was 19.6 per cent higher than Rs 409 crore reported for the same period of the previous year. The EBITDA margin also rose to 26.4 per cent from 24 per cent year-on-year.

The company’s board has approved the appointment of Devendra Rao as an Additional Director designated as ‘Whole-time Director (Manufacturing)’, for a term of 5 years from February 10.

Shares of Divi’s Laboratories had closed 0.9 per cent higher at Rs 3,651 apiece on the BSE on Friday.

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