Divi’s Laboratories Ltd Posted Strong Financial Performance with 67% Rise in Net Profit

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Divi’s Laboratories Ltd, a prominent Indian pharmaceutical company, announced a remarkable 67% increase in consolidated net profit to Rs 538 crore in the January-March quarter of FY24, compared to Rs 321 crore in the corresponding period last year. Revenue for the quarter surged by 18% year-on-year, reaching Rs 2,303 crore, up from Rs 1,951 crore.

The Board proposed a final dividend of Rs 30/- per equity share of face value Rs 2/- each for the financial year 2023-24, representing a substantial 1,500% dividend, subject to approval at the upcoming 34th Annual General Meeting (AGM).

Furthermore, the company’s EBITDA (Earnings Before Interest, Tax, Depreciation, and Amortization) witnessed a significant increase to Rs 731 crore from Rs 473 crore in the same period last year. The EBITDA margin for the quarter expanded to 31.7%, up from 25% year-on-year, reflecting improved operational efficiency.

Established in October 1990, Divi’s Laboratories operates in the pharmaceutical and biotechnology sectors, specializing in Generic API, Custom Synthesis, and Nutraceuticals. Founded by Dr. Murli K. Divi, the company holds a prominent global position in CRAMS and Generic APIs, catering to therapeutic segments such as Cardiovascular, Anti-Inflammatory, Anti-Cancer, and Central Nervous System drugs. Divi’s Laboratories’ robust financial performance underscores its leadership in the industry and commitment to delivering quality healthcare solutions.

In addition to its strong financial performance, Divi’s Laboratories Ltd. announced that its board has approved the re-appointment of Dr. Murali K. Divi as the Managing Director (MD) of the company for a further period of five years, effective from October 10, 2024. This decision underscores the company’s confidence in Dr. Divi’s leadership and his continued role in driving the company’s growth and success.

Divi’s Laboratories is a leading pharmaceutical company engaged in the manufacture of active pharmaceutical ingredients (APIs), intermediates, and nutraceutical ingredients. With its expertise in these areas, the company has established itself as a key player in the global pharmaceutical industry.

On Friday, May 24, 2024, shares of Divi’s Laboratories closed at Rs 4,122.75, with a marginal increase of 0.30%. This positive market performance reflects the confidence investors have in the company’s future prospects and its ability to maintain its position as a leader in the pharmaceutical sector.

The re-appointment of Dr. Murali K. Divi as the Managing Director for an additional five-year term is a testament to his vision, leadership, and the company’s commitment to continuity and stability. Under his guidance, Divi’s Laboratories has consistently delivered strong financial results and maintained its position as a trusted partner in the pharmaceutical industry.

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