Divi's Lab Q4 net dips 17% to Rs 181 cr

Divi's Laboratories Ltd today posted 16.75% decline in its consolidated net profit at Rs 180.57 crore for the fourth quarter ended March 31, 2013, due to foreign exchange loss during the period.

The company had posted a net profit of Rs 216.91 crore in the same period of previous fiscal.

Net sales of the company stood at Rs 655.83 crore for the fourth quarter, compared to Rs 718.04 crore in the same period of 2011-12 fiscal, Divi's Laboratories said in a filing to the BSE.

For the year ended March 31, 2013, the company posted a net profit of Rs 602.01 crore, compared to Rs 533.26 crore in the 2011-12 financial year.

The company's net sales for the year ended March 31, 2013, stood at Rs 2,139.90 crore, as against Rs 1,858.43 crore in the previous fiscal.

The company's board, which met today, recommended a dividend of 750%, Rs 15 per share of Rs 2 each for the year ended March 31, 2013.

Shares of Divi's Laboratories today closed at Rs 1,086.70 on the BSE, down 3.07% from previous close.