Indian pharma giant Divi’s Laboratories Ltd reported a significant 67% surge in consolidated net profit, reaching Rs 538 crore for the January-March quarter of FY24, compared to Rs 321 crore in the same period last year.
Revenue for the quarter saw an 18% increase, climbing to Rs 2,303 crore from Rs 1,951 crore in the previous year.
The Board has proposed a final dividend of Rs 30 per equity share with a face value of Rs 2 each for the financial year 2023-24. This recommendation is pending approval at the upcoming 34th Annual General Meeting (AGM).
EBITDA (Earnings Before Interest, Tax, Depreciation, and Amortisation) rose to Rs 731 crore from Rs 473 crore in the same period last year. The EBITDA margin for the quarter expanded to 31.7% from 25% year-over-year.
Founded in October 1990, Divi’s Laboratories is a leading pharmaceutical and biotechnology company, specializing in Generic API, Custom Synthesis, and Nutraceuticals. Under the leadership of Dr. Murli K. Divi, the company has achieved a global leadership position in CRAMS and Generic APIs. Divi’s serves various therapeutic segments, including Cardiovascular, Anti-Inflammatory, Anti-Cancer, and Central Nervous System drugs.
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