Divi's Laboratories, primarily engaged in the manufacture of and intermediates, has performed well during the year ended March 2004. The net profit moved up by 32.7 per cent to Rs 72.84 crore from Rs 54.90 crore in the previous year. Its sales also increased by 22.9 per cent to Rs 302.83 crore from Rs 246.52 crore. The board of directors has recommended a dividend of 80 per cent on equity shares of Rs 10 each.
The operating profit before interest, depreciation and taxation increased smartly by 43.5 per cent to Rs 118.56 crore from Rs 82.64 crore in the previous year. The company has successfully reduced its interest cost to Rs 3.36 crore from Rs 4.45 crore. The operating profit margins improved to 39.2 per cent from 33.5 per cent despite there is substantial rise in staff cost and manufacturing expenses.
As against the equity capital of Rs 12.82 crore its reserves reached at Rs 216.38 crore as against Rs 155.10 crore in the previous year. Its earning per share worked out to Rs 56.83 compared to Rs 47.16 for the year 2002-03.