 "Divis Laboratories hits lifetime high on strong Q1 results, bonus issue")
Shares of Divis Laboratories have surged to lifetime highs, up 8% to Rs 2,130 on the Bombay Stock Exchange (BSE) in early morning trades, after the company reported a strong 45% year-on-year (YoY) rise in net profit at Rs 243 crore for the quarter ended June 2015 (Q1). The drug maker had posted a profit of Rs 168 crore in the year-ago quarter.
Net sales of the company rose 26% YoY to Rs 807 crore for the first quarter as against Rs 640 crore in the year-ago quarter, Divis Laboratories said in a filing to BSE.
Meanwhile, the board has recommended issue of bonus equity shares in the ratio of 1:1 i.e. one equity share for every one equity share held as on a record date to be determined, subject to approval by the members of the company, Divis Laboratories added.
At 09:24 AM, the stock was up 5% at Rs 2,073 on the BSE. A combined 117,403 shares have changed hands on the counter on the BSE and NSE so far.
Net sales of the company rose 26% YoY to Rs 807 crore for the first quarter as against Rs 640 crore in the year-ago quarter, Divis Laboratories said in a filing to BSE.
Meanwhile, the board has recommended issue of bonus equity shares in the ratio of 1:1 i.e. one equity share for every one equity share held as on a record date to be determined, subject to approval by the members of the company, Divis Laboratories added.
At 09:24 AM, the stock was up 5% at Rs 2,073 on the BSE. A combined 117,403 shares have changed hands on the counter on the BSE and NSE so far.
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