Divis Laboratories surges as Q1 net profit spurts 45%

NEW DELHI: Divis Laboratories Ltd surged 8.05 per cent in trade on Monday, after the drug firm reported a 45 per cent rise in its net profit to Rs 243.18 crore for the June quarter from Rs 167.93 crore a year ago.

The stock ended the day 4.80 per cent higher or Rs 94.60 at Rs 2065.85.

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 said in a filing to BSE.

The company detailed its April-June earnings over the weekend.

"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 the last year," it added.

The company's board, which met today, has recommended bonus shares in the ratio of 1:1.