Divi’s Laboratories shares close nearly 2% higher

New Delhi: Shares of Divi’s Laboratories on Monday trimmed most of its early gains and closed nearly 2 per cent higher.

In morning trade, it had gained 4 per cent after the company reported a 29.30 per cent rise in its consolidated net profit for the quarter ended March 31, 2021.

The stock jumped 4 per cent to Rs 4,284.05 — its 52-week high — during the day on the BSE. It then closed at Rs 4,193.60, a gain of 1.87 per cent.

On the NSE, it closed with a gain of 1.52 per cent to close at Rs 4,183.

Drug firm Divi’s Laboratories on Saturday reported a 29.30 per cent rise in its consolidated net profit to Rs 502.02 crore for the quarter ended March 31, 2021, on account of robust sales.

The company had posted a net profit of Rs 388.23 crore for the corresponding period of the previous financial year, Divi’s Laboratories said in a regulatory filing.

Consolidated total income of the company stood at Rs 1,811.71 crore for the quarter under consideration. It was Rs 1,466.44 crore for the same period a year ago, it added.

For the financial year ended March this year, the company posted a net profit of Rs 1,984.29 crore as against Rs 1,376.54 crore for the previous fiscal year, the filing said.

The company’s total income for the financial year ended March 2021 stood at Rs 7,031.96 crore. It was Rs 5,584.05 crore for the year ago fiscal year, it added.

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