Divi's Laboratories shares soar 5% post solid Q4 results
Divi's Laboratories experienced a 5% surge in its share price during Monday morning trade. This significant rise was triggered by the company's announcement of its positive Q4 results over the weekend. The shares gained more than 5% to hit ₹4,339.70 on the NSE. With today's gains Divi's Laboratories share price has increased nearly 25% in the current financial year (FY25).
Divi's Laboratories recorded a 68% YoY profit growth in Q4
For the quarter ended March 31, 2024, Divi's Laboratories reported net profit of ₹538 crore, up 68% year-on-year and 50% sequentially. Revenue for the quarter in review grew 18% year-on-year to ₹2,303 crore. The company's board also recommended a final dividend of ₹30 per share. Motilal Oswal is bullish on Divi's CDMO segment, citing continued service improvements during product development and manufacturing. They forecast a strong 27% CAGR in Divi's earnings over FY24-26.
The company specializes in generic Active Pharmaceutical Ingredients
Founded in 1990, Divi's Laboratories is a diversified pharmaceutical and biotechnology company. They specialize in manufacturing a wide range of products, including generic Active Pharmaceutical Ingredients (APIs), custom-synthesized compounds, and nutraceuticals. Their products target various therapeutic areas, such as cardiovascular health, inflammation management, cancer treatment, and central nervous system disorders.
