Divi’s Lab posts 17% y-o-y growth in Q3 net profit at ₹358 Crore

12 Feb 2024 , 10:41 AM

On February 10, pharma company Divi’s Laboratories reported a 17% year-on-year (YoY) increase in consolidated net profit to ₹358 Crore for the October-December quarter of the current fiscal year.

The firm made ₹306 Crore in profit during the same time previous year.

Revenue was ₹1,855 Crore, up 8.6% from ₹1,708 Crore in the same period last year.

Operational performance remained modest, with Earnings before interest, taxes, depreciation, and amortisation (EBITDA) of ₹479 Crore, up 19.6% from ₹409 Crore.  The EBITDA margin also increased to 26.4% from 24% in the base period.

The board also authorised the nomination of Devendra Rao as Additional Director, designated as ‘Whole-time Director (Manufacturing),’ for a five-year tenure beginning February 10. The company’s board has accepted Sunaina Singh’s reappointment as an Independent Director for a second five-year term beginning March 28, 2024.

Forex profits for the current nine months totaled ₹32 Crore, compared to ₹134 Crore in the preceding nine months. This quarter, material consumption accounted for about 39% of sales revenue.

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