Divi's Laboratories Ltd, a Hyderabad-based active pharmaceutical ingredients (APIs) and intermediate company, reported a 45.34 per cent rise in its net profit for the first quarter ended June 30, 2008, on the back of a balanced product mix.
The company clocked a net profit of Rs 94.33 crore for the quarter, as compared with Rs 64.9 crore in the corresponding quarter last year. Its total income increased to Rs 268.63 crore, from Rs 230.11crore during the comparable period last year, reflecting a growth of 16.93 per cent.
“The higher profitability was on account of an equal distribution of custom synthesis of APIs and intermediates and generics,” L Kishore Babu, chief financial officer of Divi's, told Business Standard.
Around Rs 1.22 crore has been charged as expense during the first quarter on account of stock options. It has provided for losses on foreign exchange fluctuations and mark-to-market to the extend of Rs 8.99 crore.