Divi's Laboratories Q3 Results: Pharma major sees 17% jump in profit to Rs 358 crore

Divi's Laboratories reported a 17 percent year-on-year (YoY) rise in its consolidated profit to Rs 358 crore for the December quarter. Revenue came in at Rs  1,855 crore up 8.6 percent from the year-ago quarter of Rs 1,708 crore.

The company reported a profit of Rs 306 crore in the same period last year.

Operational performance was on the weaker side as the company's earnings before interest, taxes, depreciation and amortization (EBITDA) came in at Rs 479 crore, up around 19.6 percent from Rs 409 crore.  The EBITDA margin also rose to 26.4 percent against 24 percent in the base period. 

Forex gain for the current 9-month accounted for Rs 32 crore as against Rs 134 crore during the previous 9-month period.

The company's board has approved the reappointment of Sunaina Singh as an Independent Director for a second term of five years effective from March 28, 2024.

Further, the board has also approved the appointment of Devendra Rao as Additional Director designated as ‘Whole-time Director (Manufacturing), for a term of 5 years from February 10.

Shares of Divi's Laboratories closed 0.9% higher at Rs 3,651 apiece on the BSE on Friday, as compared with a 0.23% rise in the benchmark Sensex.