Divis Lab shares surge 5% on strong Q1 earnings

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Mumbai | Updated: August 10, 2015 4:53:01 PM

Shares of Divis Laboratories on Monday surged almost 9 per cent after the drug firm reported 45 per cent rise in net profit for the June quarter.

live sensex, BSE Sensex, live sensex today, live sensex and nifty, bse india, NSE Nifty, nse india, stock market, market today, sensex today, asian market, stock market newsDivis Laboratories on Saturday reported 45 per cent rise in net profit at Rs 243.18 crore for the June quarter, from Rs 167.93 crore a year ago. (Express Photo)

Shares of Divis Laboratories on Monday surged 4.80 per cent on Monday after the drug firm reported 45 per cent rise in net profit for the June quarter. The scrip closed at Rs 2,065.85.

Divis Laboratories on Saturday reported 45 per cent rise in net profit at Rs 243.18 crore for the June quarter, from Rs 167.93 crore a year ago.

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 had said in a filing to BSE.

“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 last year,” it added.

The company’s board has recommended bonus shares in the ratio of 1:1.

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