Divi's Lab profit surges 94% at Rs 31 cr

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Hyderabad-based Divi's Laboratories reported 94 per cent jump in net profit at Rs 31 crore for the quarter ended September 30, compared with Rs 16 crore in the corresponding quarter last year.

The pharma company's income too shot up 97 per cent to Rs 165 crore against Rs 84 crore in the previous corresponding quarter.

The basic earnings per share (face value of Rs 10 per share) of Divi's Lab, which manufactures active pharmaceutical ingredients and intermediates, stood at Rs 24.40, against Rs 12.2 in the same period of 2005-06.

The total income grew on the back of increase in consumption of raw material, which stood at Rs 75.24 crore (Rs 40.93 crore), and manufacturing expenses, which rose 13 per cent to Rs 9.58 crore during the quarter, compared with Rs 8.50 crore in the corresponding quarter last year.

The first phase of its special economic zone at Chippada, near Bheemunipatnam, started commercial operations on October 27, the company said in a press release.