Divi's Lab standalone Q3 net up 9% at Rs 268 crore

Income from operations uo 14% to Rs 976 cr; however, nine-month profit is flat at Rs 792 cr

Hyderabad-based Divi's Laboratories Limited has reported an increase of 8.73 per cent in net profit at Rs 268.32 crore for the quarter ended December 2016 as compared with Rs 246.76 crore in the corresponding quarter previous year.

Total income from operations of the company jumped 13.58 per cent at Rs 976.48 crore in the quarter under review as compared with Rs 859.75 crore in the corresponding previous quarter.

For the nine-month period ended December 2016, the company's total income stood at Rs 2,999 crore as compared with Rs 2,646 crore in the same period in the previous financial year. The net profit for the nine-month period marginally increased to Rs 792 crore as compared to Rs 786 crore in the year ago period.

Explaining the steps being taken after it received a set of critical observations from the US Food and Drug Administration (USFDA) following inspection of its Unit-2 at Visakhapatnam, Divi's said it has filed its comprehensive response to the observations within the stipulated time.

"In respect of the observations made by USFDA, the company has outlined appropriate remediation measures and is monitoring the effectiveness of the corrective and preventive actions towards the currnet good manufacturing practices (cGMP) compliance," it said.