Divis Laboratories Ltd., manufacturer of active pharmaceutical ingredients and intermediates, reported a lower net profit, both on consolidated and stand-alone basis, for the fourth-quarter, on declined incomes.
Consolidated Results
The Hyderabad-based company posted a fourth-quarter consolidated net profit, after minority interest and share of associates, of Rs.180.57 crore or Rs.13.60 per share, lower by 17 percent than the Rs.216.91 crore or Rs.16.35 per share of the corresponding period last year.
Its fourth quarter's net income fell by nine percent to Rs.655.83 crore from the Rs.718.04 crore a year-ago, while other operating income was Rs.1.67 crore, compared with the Rs.3.47 crore of the previous year.
For the full year, the company earned a consolidated net profit, after minority interest and share of associates, of Rs.602.01 crore, up by 13 percent from the Rs.533.26 crore in 2012. Total net income, including other operating income, increased by 15 percent to Rs.2,144.84 crore from the Rs.1,863.87 crore last year.
Stand-alone Results
Divis Lab Ltd., reported a fourth-quarter stand-alone net profit of Rs.181.83 crore or Rs.13.70 per share, compared with the Rs.214.78 crore or Rs.16.19 per share of the corresponding quarter last year, a 15 percent decline. Total net income, including other operating income, dropped by nine percent to Rs.651.28 crore from the Rs.711.42 crore a year ago.
For the fiscal year, the company's stand-alone net profit rose by 12 percent to Rs.611.42 crore from the Rs.545.97 crore in 2012. Total net income, including other operating, grew by 15 percent to Rs.2,128.89 crore from the Rs.1,844.93 crore last year.
The company's board recommended a dividend of 750 percent or Rs.15.00 per equity share of Rs.2 each for the fiscal year 2013
At the BSE, Divis Laboratories shares are currently trading at Rs.1,013.85, down 6.70 percent from the previous close.
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