Hot Pursuit     25-May-24
Divis Lab Q4 PAT spurts 68% YoY; declares dividend of Rs 30/share
The pharma major'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 company’s 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 company’s 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 company’s 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.

Shares of Divi's Laboratories added 0.30% to close at Rs 4,122.75 on Friday, 24 May 2024.

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