Divis Labs Posts Rs 55-cr Net

Hyderabad, May 22: | Updated: May 23 2003, 05:30am hrs
Divis Laboratories Ltd (DLL), a city-based manufacturer of active pharma ingredients and intermediates, has reported a net profit of Rs 54.90 crore for the year-ended March 31, 2003 (FY03) as against the previous year profit of Rs 36.57 crore.

The company board, which met on Thursday to take on record the financial results of the company, has recommended a dividend of 60 per cent (Rs 6 per share) as against 50 per cent announced last year.

As per the audited results announced by the company, DLL has recorded a turnover of Rs 259.72 crore as against Rs 220.25 crore in the previous year.

The financial charges have reduced during the year under review to Rs 4.44 crore from Rs 7.04 crore in the previous year.

The company has made its maiden public issue in February 2003 for setting up the second manufacturing facility at Visakhapatnam at a cost of Rs 40 crore.