Divis Lab shares surge almost 9% on smart Q1 earnings

Shares of Divis Laboratories today surged almost 9 per cent after the drug firm reported 45 per cent rise in net profit for the June quarter.
The stock gained 8 per cent to Rs 2,129.90 -- its 52-week high -- at the BSE.
At the NSE, it went up 8.86 per cent to touch its one -year high of Rs 2,145.
Divis Laboratories on Saturday reported 45 per cent rise in net profit at Rs 243.18 crore for the June quarter, from Rs 167.93 crore a year ago.
Net sales of the company rose to Rs 806.91 crore for the first quarter as against Rs 639.76 crore in the year-ago quarter, Divis Laboratories had said in a filing to BSE.

"Forex translation gain for the current quarter amounted to Rs 21 crore as against a gain of Rs 1 crore during the corresponding quarter of last year," it added.
The company's board has recommended bonus shares in the ratio of 1:1.