Divi's Laboratories Q1 net jumps 63% to Rs 167 crore

Pharmaceuticals firm Divi's Laboratories reported 63.15 percent increase in standalone net profit for the quarter ended 30 June, 2012 at Rs 167.38 crore, driven by higher sales realisation.

The company had posted a net profit of Rs 102.59 crore in the same period last fiscal. During the first quarter this fiscal, net sales were at Rs 468.41 crore as against Rs 361.28 crore in the year-ago period, up 29.65 per cent, Divi's Laboratories said in a filing to BSE.

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Total expense during the period under review stood at Rs 295.45 crore as against Rs 244.4 crore in the corresponding period last fiscal, it said.

The company's Unit 2, near Vishakapatanam has undergone three cGMP inspections during June-July this year.

One of the inspections was by TGA of Australia for active pharma ingredients (APIs), it said. "The other two inspections were by the USFDA, one for nutraceuticals and the other for APIs. All the three inspections had no major observations," the company said.

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Shares of Divi's Laboratories were trading at a new high of Rs 1,128.50 per share in the afternoon trade on the BSE, up 1.02 percent from the previous close.

PTI