Industry

Divi’s Labs Q1 net surges 81%

Drugmaker Divi’s Laboratories reported an 81% jump in first-quarter consolidated net profit at ₹492.06 crore.

In the year earlier period, it had reported a net profit of ₹272.44 crore.

The higher net profit came on the back of revenue from operations increasing 49% to ₹1,730.47 crore (₹1,162.88 crore).

Forex gain during the quarter was ₹5 crore as against a loss of ₹6 crore in the corresponding quarter of last year.

The company said it had near normal operations during the quarter, with minimal impact due to the COVID-19 pandemic.

While a significant part of ongoing capex programmes were completed in the last fiscal year, there was a delay in the completion of the balance work due to the non-availability of workmen with some contractors engaged for the projects, the firm said.

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Printable version | Sep 22, 2020 12:55:28 AM | https://www.thehindu.com/business/Industry/divis-labs-q1-net-surges-81/article32306326.ece

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