The Hindu Business Line : Divi's Labs Q4 net up 4 times; to split shares

Hyderabad May 23 Divi's Laboratories Ltd (DLL), the Hyderabad-based Active Pharmaceutical Ingredients manufacturer has posted a net of Rs 101 crore for the fourth quarter of the financial year 2006-07, registering a 341 per cent jump over the previous year's comparative quarter's Rs 22 crore.

The turnover also grew by 97 per cent to Rs 256 crore (Rs 130 crore) for the last quarter of fiscal 2006-07, on a standalone basis. The company's board, which took on record the financial performance, also recommended split of equity shares from the face value of Rs 10 each to Rs 2 each, subject to approvals.

Consolidated figures

On a consolidated basis, DLL's net for the fiscal 2006-07 was Rs 186 crore, showing a 167 per cent growth over the Rs 70 crore reported the previous year. The turnover stood at Rs 738 crore, an increase by 88 per cent over Rs 392 crore the previous year. The results include the financials of its subsidiaries, Divi's laboratories (US) and Divi's Laboratories Europe.

The results for the year include operations from the SEZ unit at Chippada, Bheemunipatnam. During the year, the company also got USFDA inspection done successfully for its EOU and SEZ units, said a press release here on Wednesday.

The high growth rates during the years were due to its strategy to work with multi-national innovator companies developing compounds under custom synthesis, besides a strategic positioning in the generic products, duly supported by capital expenditure programmes, the release added.

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