Divis Labs Q1 net up 4% at Rs 174.7 cr

The company had posted a net profit of Rs 167.4 crore for the corresponding period previous fiscal

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Drug firm Divis Laboratories today reported 4.37% rise in net profit to Rs 174.71 crore for the quarter ended June 30, 2013, on account of robust sales and increase in forex gains.

 

The company had posted a net profit of Rs 167.38 crore for the corresponding period previous fiscal, Divis Laboratories said in a filing to BSE.

 

Total income of the company also rose to Rs 517.15 crore for the quarter under consideration from Rs 469.51 crore for the year ago period, it added.

 

"Forex gain for the current quarter amounted to Rs 43 crore as against a gain of Rs 30 crore during the corresponding quarter last year," Divis Laboratories said.

 

Established in 1990 the company's primarily focuses on Active Pharma Ingredients (APIs) & Intermediates.

 

The company also undertakes full-time equivalent (FTE)/ Contract Research on process development for discovering new compounds for leading multi-national companies across the world and partners with them for the supply of APIs.