Hyderabad (Telangana) [India], May 29 (ANI): Divi’s Laboratories on Saturday reported 25 per cent jump in its net profit to Rs 488 crore for the quarter ended March.
It had reported profit after tax of Rs 392 crore in Q4 FY20. Though tax expenses rose from Rs 83 crore to Rs 164 crore in Q4 FY21, total revenues rose 20 per cent on-year to Rs 1,741 crore from Rs 1,453 crore.
The company benefited from a low base in the year-ago quarter which was hit by the Covid-19 national lockdown.
However, the company’s earnings showed strong traction in 2020-21 due to a surge in demand for bulk drugs caused by the pandemic.
For the financial year ended March, the company’s board of directors approved a final dividend of Rs 20 per share.
Divi’s Labs took a capacity expansion with an estimated investment of Rs 400 crore for fast-tracking a customs synthesis project.
A part of the project has been completed and become operational, it said adding that rest of the plan will be completed during early part of the next financial year. (ANI)
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