Divi’s Labs Q3 net profit rises 31%
Shares of Divi’s Laboratories jumped to a record high after the drugmaker expects its future earnings will gain momentum and witness margin expansion, led by better demand for custom synthesis, improving sales and new products.
On Saturday, Divi’s Lab reported a 3% rise in net profit of Rs 470.62 crore for the quarter ended December 2020, on account of robust sales. It had posted a net profit of Rs 359.09 crore for the corresponding period of the previous fiscal.
Total income, on a consolidated basis stood at Rs 1,720.76 crore for the quarter under consideration. It was Rs 1,437.93 crore for the same period a year ago.
The company has been able to have normalised operations during the quarter.
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