Divi’s Labs shares rise 4%, Q3 net profit jumps 65% to Rs 589 crore
Divi’s Labs on February 3 reported a consolidated net profit of Rs 589 crore in the December quarter of the current fiscal.
This represents a jump of nearly 65 percent from the net profit of Rs 358 crore recorded in the same period last fiscal.
Divi’s Labs released its results for the December quarter of FY25 on February 3. As of 1.30 pm, the company’s shares saw a gain of nearly 4 percent and were trading at Rs 5,835 per share.
The company’s revenue from operations during the quarter under review grew 25 per cent year-on-year to Rs 2,319 crore. Divi’s Labs had reported revenue from operations of Rs 1,855 crore in the third quarter of last year.
The company reported a total income of Rs 2,401 crore in the third quarter. This represents a growth of nearly 23 percent over the total income of Rs 1,950 crore recorded in the corresponding quarter of the previous fiscal.
Meanwhile, its total expenditure grew 15 percent year-on-year to Rs 1,675 crore.
The company said in its press release, “A part of the Kakinada Project (Unit-III) has started commercial operations from January 1, 2025. The rest of the Kakinada Project is under execution and is expected to be operational in about 6 months.
We have capitalised assets of Rs 433 crore for the quarter and Rs 557 crore for the 9-month period (April-December) of the current year. Out of this, capitalisation during the 9-month period for the Kakinada Project is Rs 418 crore.
” Along with the third quarter results, the company also announced that its board has approved the re-appointment of Kiran S Divi as the CEO and whole-time director of the company for a period of five years with effect from April 1, 2025.
After opening marginally lower at Rs 5,602, the shares rose sharply to hit an intraday high of Rs 5,881 per share.
The stock is currently trading around 74 per cent higher than its 52-week low of Rs 3,350 per share. However, it is down 10 per cent from its 52-week high of Rs 6,449 per share.
