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Business News/ Companies / Company Results/  Divi's Laboratories Q4 Results: Net profit rises 67% to 538 crore, revenue up 18% YoY; dividend declared
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Divi's Laboratories Q4 Results: Net profit rises 67% to ₹538 crore, revenue up 18% YoY; dividend declared

Divi's Laboratories Q4 Results: The pharma major's revenue from operations in the fourth quarter of FY24 rose 18 per cent to ₹2,303 crore

Divi's Laboratories Q4 Results: Net profit rises 67 per cent in the March quarter. (Image Credit: iStock)Premium
Divi's Laboratories Q4 Results: Net profit rises 67 per cent in the March quarter. (Image Credit: iStock)

Divi's Laboratories Q4 Results: Divi's Laboratories announced its January-March quarter results for fiscal 2023-24 (Q4FY24) on Saturday, May 25, reporting a rise of 67.6 per cent in net profit at 538 crore, compared to 321 crore in the corresponding period last year.

The pharma major's revenue from operations in the fourth quarter of FY24 rose 18 per cent to 2,303 crore, compared to 1,951 crore in the year-ago period. The company's board also recommended a final dividend of 1,500 per cent i.e., at 30 per equity share for the face value of 2 each for fiscal ended March 31, 2024.

Also Read: Q4 Results Today: Aurobindo Pharma, Reliance Power, Divi's Lab among 91 companies to post earnings on May 25

The dividend is subject to the approval of the company's shareholders. The company's  34th annual general meeting (AGM) will be held on August 12, 2024. The record date for the purpose of the payment of dividend is August 2, 2024.

At the operating level, Divi's Labs earnings before interest, tax, depreciation and amortization (EBITDA) in the March quarter rose 50.1 per cent to 731 crore, compared to 487 crore in the same period last year. Margin rose to 32 per cent compared to 25 per cent in the year-ago period. 

The board approved the appointment of Dr. Rajendra Kumar Premchand, as an additional director designated as independent director of the company, for a term of five years commencing from May 25, 2024.

The board also approved the re-appointment of Dr. Murali K. Divi as the managing director for a further period of five years, upon the expiry of his present term of office, i.e. with effect from October 10, 2024, and payment of remuneration.

The Hyderabad-based multinational pharma company is a producer of active pharmaceutical ingredients, custom synthesizes generic APIs and intermediates.  According to the latest BSE rejig, Divi's Laboratories will be added to the Sensex Next 50 index. On Friday, shares of Divi's Laboratory settled 0.30 per cent higher at 4,122.75 apiece on the BSE.

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Nikita Prasad
Nikita covers business news and has been producing news on digital platforms since 2018. She writes on economy, policy, markets, commodities, industry. Her core areas of interests include infrastructure, energy, oil and gas, railways, and transport/mobility. She has worked for business news channels like Moneycontrol, NDTV Profit, and Financial Express in the past. If you have story ideas/pitches/reports or quotes/views to share, reach her at nikita.prasad@htdigital.in.
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Published: 25 May 2024, 04:21 PM IST
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