Divi's Labs hit 52 week high as Q4 PAT spurts 68% YoY; declares dividend of Rs 30/share

Divi's Laboratories advanced 5.37% to Rs 4,344.10 after the company's consolidated net profit jumped 67.6% to Rs 538 crore on 18.04% rise in revenue from operations to Rs 2,303 crore in Q4 FY24 over Q4 FY23.

Profit before tax stood at Rs 713 crore in the March quarter, up 53% from Rs 466 crore posted in Q4 FY23.

Total expense grew by 7.61% year on year to Rs 1,669 crore in Q4 FY24. Cost of material consumed was at Rs 898 crore (up 11.14% YoY) and employee benefit expenses stood at Rs 297 crore (up 15.12% YoY) during the period under review.

On a standalone basis, the companys net profit climbed 66.46% to Rs 531 crore on 18.4% rise in revenue to Rs 2,259 crore in Q4 FY24 over Q4 FY23.

Forex loss for the current quarter amounted to Rs 1 crore as against a loss of Rs 3 crore during the corresponding quarter of the last year.

For FY24, the companys consolidated net profit slipped 12.28% year on year to Rs 1,600 crore. Revenue from operations rose marginally to Rs 7,845 crore as against RS 7,767 crore recorded in Q4 FY23.

Meanwhile, the board has recommended a final dividend of Rs 30 per share for the financial year 2023-24. The record date for the dividend is 2 August 2024.

Further, the companys board has approved the re-appointment of Dr. Murali K. Divi as managing director (MD) of the company for a further period of five years, with effect from 10 October 2024.

Divis Laboratories is engaged in the manufacture of active pharmaceutical ingredients, intermediates and nutraceutical ingredients.

The scrip hit a 52-week high at Rs 4,354 in todays intraday session.

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