 "Divi's Lab Q3 result: Profit up 65% to Rs 589 cr on robust market sales")
Drug firm Divi's Laboratories on Monday said its profit after tax (PAT) increased 65 per cent to Rs 589 crore for the December quarter, on the back of robust sales across markets.
The company had reported a profit after tax (PAT) of Rs 358 crore for the October-December quarter of last fiscal.
Revenue from operations rose to Rs 2,319 crore in the third quarter as against Rs 1,855 crore in the year-ago period, Divi's Laboratories said in a regulatory filing.
The drug firm noted a part of the Kakinada Project (Unit-III) commenced commercial operations from January 1, 2025.
The rest of Kakinada project is being implemented and is expected to be operational in about six months, it added.
"We have capitalised assets of Rs 433 crore for the quarter and of Rs 557 crore for the nine-month period of the current fiscal year. Of this, capitalisation for Kakinada Project is Rs 418 crore during the 9-month period," the drug firm stated.
The company said its board has approved the re-appointment of Kiran S Divi as Chief Executive Officer of the company for another five years.
Shares of drug firm were trading 3.69 per cent up at Rs 5,829.75 apiece on the BSE.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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