Divis net up 35%

Divis Laboratories reported a 35.41 per cent increase in consolidated net profit to Rs 175.19 crore for the quarter ended March 31, 2011, as compared with Rs 129.38 crore in the corresponding quarter previous year. Total income grew 52.77 per cent to Rs 481.18 crore for the quarter compared with Rs 314.98 crore last year.

The growth in profit was largely impacted by a steep increase in expenditure, which grew 71.76 per cent to Rs 300.76 crore for the quarter as against Rs 175.1 crore last year.

For the full year ending March 31, 2011, net profit stood at Rs 429.27 crore, an increase of 26 per cent over Rs 340.34 crore in the previous year. Total income for the year was up 36.74 per cent to Rs 1,318 crore from Rs 963.93 core.

“The business has grown satisfactorily across all segments, especially during the second half of the year,” the company said in a release. Exports constituted 93 per cent of sales and about 75 per cent to advanced markets in North America and Europe.