Divis Lab shares end nearly 5% up on smart Q1 earnings

Shares of Divis Laboratories today rose by nearly 5 per cent after the drug firm reported 45 per cent jump in net profit for the June quarter.
After surging 8 per cent to Rs 2,129.90 -- its 52-week high-- at the BSE during the day, shares of the company finally ended at Rs 2,065.85, up 4.80 per cent.
On NSE, the stock gained 4.68 per cent to Rs 2,062.75 at close.
Tracking rally in the stock, the company's market valuation went up by Rs 1,255.91 crore to Rs 27,420.91 crore.
Divis Laboratories on Saturday reported 45 per cent rise in net profit at Rs 243.18 crore for the June quarter, from Rs 167.93 crore a year ago.

Net sales of the company rose to Rs 806.91 crore for the first quarter as against Rs 639.76 crore in the year-ago quarter, Divis Laboratories had said in a filing to BSE.
"Forex translation gain for the current quarter amounted to Rs 21 crore as against a gain of Rs 1 crore during the corresponding quarter of last year," it added.
The company's board has recommended bonus shares in the ratio of 1:1.