Divi's Lab profits surge 15%

Divi's Laboratories' profit for the last quarter surged 15 per cent. The company reported net profit of Rs 107 crore for the fourth quarter for financial year 09 (FY09) as against Rs 93 crore a year before that.

Revenues for the Q4 were up by 15.82 per cent to Rs 322 crore.

The company also reported 19.83 per cent increase in annual profit for FY09. The profit stood at Rs 417 crore. Revenues, on the other hand, increased by 14.23 per cent to Rs 1,180 crore.

Divi's Labs has also declared a dividend of Rs 5 each share. And, the board has also recommended a bonus issue of 1:1

Thanks to the bonus announcement, the company's share price gained 3.08 per cent. It went up Rs 36.56 and was trading at Rs 1,227.80 each share.

In the last financial year, the company incurred Rs 45 crore losses on forex fluctuation and provision for mark-to-market on forward hedging/swap arrangements.

During the year, Divi's has spent Rs 141 crore on capital expenditure for augment capacities and its manufacturing facilities.

During the year, Nutraceutical manufacturing facility has been commissioned and commenced commercial operations. “This facility is expected to be ramped up as new the company gets new customers on board,” the company said in a statement issued to National Stock Exchange.

It has already started selling Nutraceutical products through its subsidiaries in the US and Europe.