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Divis Laboratories Ltd is considering setting up a new manufacturing facility near Kakinada in Andhra Pradesh with an investment of Rs 500 crore.
The Hyderabad-based company, which now has two plants in Hyderabad and Visakhapatnam, had already made an application to the State Government for allocation for land for its third plant and is awaiting response. It was proposed to make an initial investment of Rs 500 crore on this facility, Divis informed the Bombay Stock Exchange on Saturday.
The company posted a net profit of Rs 221 crore on a standalone basis for the third quarter ended December 31, 2014 compared to Rs 219 crore in the year-ago period. The total income grew to Rs 791 crore (Rs 689 cr).
The forex gain during the quarter amounted to Rs 11 crore while there was a forex loss of Rs 5 crore in the year-ago period. The company has capitalised fixed assets aggregating to Rs 143 crore in the current quarter.
On Friday, Divi’s scrip lost 1.30 per cent to close at Rs 1,742.45 on the BSE.
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