Divi's Labs gains 3%, hits new high on strong March quarter results

The board has recommended a dividend of Rs 20 (i.e. 1,000 per cent) per equity share of face value Rs 2 each for the financial year 2020-21

Shares of Divi's Laboratories hit a new high of Rs 4,240, up 3 per cent on the BSE in intra-day trade on Monday after the drugmaker reported strong results for the March quarter (Q4FY21), with EBITDA (earnings before interest, taxes, depreciation, and amortization) margins expanding by 807 basis points (bps) to 40.1 per cent year-on-year (YoY), due to better gross margin performance and lower other expenditure.

The board has recommended a dividend of Rs 20 (i.e. 1,000 per cent) per equity share of the face value of Rs 2 each for the financial year 2020-21 (FY21). The stock of the pharmaceutical