Divi's Lab shares surge 7% as Q1 net rises

At NSE, shares of the company jumped 6.44% to touch its one-year high of Rs 1,271

Shares of drug firm Divi's Laboratories on Tuesday surged nearly 7 per cent after the company posted a rise of 23 per cent rise in net profit for the first quarter ended June 30.

The scrip rose 6.58 per cent to Rs 1,268.65, its 52-week high, on BSE.

At NSE, shares of the company jumped 6.44 per cent to touch its one-year high of Rs 1,271.

Divi's Laboratories on Friday posted a rise of 23 per cent rise in net profit at Rs 301.81 crore for the first quarter.

It had posted a net profit of Rs 245.18 crore for the same period last financial year.

 

Net sales rose to Rs 1,005.97 crore for the first quarter compared with Rs 806.91 crore during the same period of previous financial year, Divi's had said in a regulatory filing.

The company manufactures active pharmaceutical ingredients (APIs) and intermediates.