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Divis Labs to start construction of unit-III facility in Andhra Pradesh

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Divis Laboratories has commenced construction of its unit-III facility at Kona Forest, Near Kakinada, Andhra Pradesh from 7 December 2020.

The company will invest about Rs 1500 crore out of its internal accruals in phased manner for the implementation of its unit-III facility. The operations are likely to commence within 12 to 18 months for 1st phase of the project. All the requisite licenses have been granted by the Government of India and Government of Andhra Pradesh for implementation of the project.

Divis Laboratories reported 45.6% jump in consolidated net profit to Rs 519.59 crore on a 21% increase in net sales to Rs 1,749.30 crore in Q2 FY21 over Q2 FY20.

Shares of Divis' Laboratories rose 0.56% to Rs 3,627.70.

Divis Laboratories is a manufacturer of APIs (active pharmaceuticals ingredients), intermediates and registered starting materials offering high quality products to over 95 countries.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Tue, December 01 2020. 15:21 IST