Divi's Lab Q4 results: Net profit spikes 68% YoY to ₹538 crore; dividend declared

Divi's Laboratories' consolidated net profit in the quarter ended March 2024 jumped 68% year-on-year (YoY) to ₹538 crore, as per the financial results declared by the Hyderabad-based pharmaceutical major on Saturday, May 25.

In the year-ago quarter, the company had logged a net profit of ₹321 crore.

Apart from growing YoY, the net profit posted by Divi's Lab also increased 50% sequentially, as compared to ₹358 crore in the December 2023 quarter.

The company's consolidated revenue from operations climbed 18% YoY to ₹2,303 crore in Q4FY24, as against ₹1,951 crore in Q4FY23.

Sequentially, the revenue from operations surged by 24% as it stood at ₹1,951 crore in Q3FY24.

Divi's Lab declares dividend

The company's board of directors declared a final dividend of ₹30 per equity share of face value of ₹2 each for FY24.

The record date to determine the shareholders eligible for the dividend payout has been fixed as August 2. The payout will be subject to the approval of shareholders at the ensuing annual general meeting (AGM), scheduled on August 12.

Divi's Lab FY24 results

For the fiscal year ended March 31, 2024, Divi's Lab posted a consolidated net profit of ₹1,600 crore, down 12% from ₹1,824 crore reported in FY23.

The revenue from operations increased marginally by 1% to ₹7,845 crore in FY24, as against ₹7,767 crore in the previous year.

Shares of Divi's Lab had closed 0.23% higher at ₹4,122.4 apiece on the NSE on May 24. In the last one year, the stock has grown by 17.4%.