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Divis Laboratories Ltd is considering setting up a new manufacturing facility near Kakinada in Andhra Pradesh, with an investment of ₹500 crore.
The Hyderabad-based company, which now has plants in Hyderabad and Visakhapatnam, had applied to the State Government for allocation of land for its third plant and is awaiting a response.
It was proposed to make an initial investment of ₹500 crore in this facility, Divis informed the Bombay Stock Exchange on Saturday.
The company posted a net profit of ₹221 crore on a stand-alone basis for the third quarter ended December 31, 2014, compared with ₹219 crore in the year-ago period. The total income grew to ₹791 crore (₹689 cr). The forex gain for the quarter under review amounted to ₹11 crore while there was a forex loss of ₹5 crore in the year-ago period. The company has capitalised fixed assets aggregating to ₹143 crore in the current quarter.
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