Divis Labs Q2 Net Down 24.6% At Rs 224 Crore

New Delhi: Drug firm Divis Laboratories today reported a 24.60 per cent dip in its standalone net profit to Rs 223.85 crore for the quarter ended September 30, 2016 mainly on account of increased expenses.

The company had posted a net profit from ordinary activities after tax of Rs 296.90 crore during the corresponding period last fiscal, Divis Laboratories said in a filing to BSE.

The company's standalone total income from operations stood at Rs 1,005.43 crore for the quarter under consideration. It was Rs 971.69 crore in the year-ago period.

During the current quarter, the company has paid a one time ex-gratia of Rs 79 crore to the employees and whole-time directors on the occasion of completion of 25 years of formation of the company, Divis Laboratories said.

For the half year ended September 2016, the company reported a net profit of Rs 525.66 crore as against Rs 542.08 crore in the year-ago period.

Total income of the company during the six-month period stood at Rs 2,022.62 crore as against Rs 1,786.71 crore during the same period a year ago.

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