Divi's Laboratories, primarily engaged in the manufacturing of APIs, has performed well during the third quarter ended December 2013 and its net profit went by 51.8 per cent to Rs.219 crore from Rs.144 crore in the corresponding period of last year. Its net sales also improved strongly by 28.9 per cent to Rs.687 crore as against Rs.533 crore. EBDITA moved up by 44.5 per cent to Rs.296 crore from Rs.205 crore. Forex loss for the current quarter amounted to Rs.5 crore while there was a forex gain of Rs.16 crore in the last period.
With strong financial performance, Divi's scrip of face value of Rs.2 each touched to its yearly highest level at Rs.1,390 today on BSE in the morning session as against its lowest of Rs.905 on August 5, 2013. Currently, it is moving around Rs.1,350.
For the nine months period ended December 2013, Divi's Laboratories net sales increased by 20 per cent to Rs.1,769 crore from Rs.1,474 crore in the similar period of last year. Its net profit went up by 39.4 per cent to Rs.599 crore from Rs.430 crore.