The Hindu Business Line : Divi's Labs Q4 net up at Rs 22 cr

DIVI'S Laboratories has earned a net profit of Rs 73 crore on a total income of Rs 317 crore for the year ended March 31. While the income has grown by 22 per cent (Rs 259.72 crore), profit before tax grew to Rs 102 crore.

The tax provision accounted for Rs 29 crore during 2003-04, as against Rs 14 crore during the previous year.

Net profit for the last fiscal grew by 33 per cent (Rs 54.9 crore).

According to a company press release, for the fourth quarter, the income and net profits were Rs 102 crore and Rs 22 crore respectively.

The income and net profits for the corresponding previous quarter of the last year were Rs 65 crore and Rs 19 crore respectively.

Divi's Board has approved the audited results for the year at its meeting held today. The board has also recommended a dividend of Rs 8 per share for the year.

Divi's manufacturing facility near Hyderabad was inspected by the United States Food and Drug Administration in May 2004 without any observations.

The previous inspection of the facility by the FDA in the year 2000 was for six DMFs (drug master files) for marketing its products in the US.

The company currently has 12 DMFs for the US market.

Divi's, one of the fast growing pharma companies has recently given a guidance of Rs 400 crore turnover for the financial year 2004-05, the release said.