Financial Daily from THE HINDU group of publications
Friday, Oct 22, 2004
Financial Daily from THE HINDU group of publications Friday, Oct 22, 2004 |
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Corporate Results
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Pharmaceuticals Divi's Labs Q2 profit falls Our Bureau
Hyderabad , Oct. 21 DIVI'S Laboratories Ltd (DLL), the city-based manufacturer of active pharmaceutical ingredients and intermediates, has suffered a fall in net profit for the second quarter of current fiscal ended September 30, despite having registered a growth in turnover. According to the unaudited financial results taken on record by the DLL board here on Thursday, the company has achieved a turnover of Rs 78.54 crore, against Rs 63.2 crore in the corresponding quarter of previous fiscal and posted a net profit of Rs 13.48 crore (Rs 15.5 crore), yielding an EPS of Rs 10.52 (Rs 12.10) on an equity base of Rs 12.81 crore. For the first half of current fiscal, the company achieved a turnover of Rs 144.65 crore (Rs 130.13 crore) and a net profit of Rs 27.81 crore (Rs 30.65 crore). In a press release here, the company said the lower profitability during the quarter under review was due to the movement of certain products with higher material costs and increase in prices of petroleum and molasses based solvents besides incidence of higher taxation consequent to withdrawal of exemption on export profits.
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