Total income grew 17.34% to Rs 2,342.91 crore in the quarter ended 30 June 2022 from Rs 1,996.61 crore recorded in the same period a year ago.

Consolidated profit before tax stood at Rs 851.30 crore in the first quarter, up 4.52% as against Rs 814.48 crore posted in Q1 FY22.

Total expenses surged 26.18% year on year to Rs 1,491.61 crore in Q1 FY23. Cost of materials consumed was at Rs 778.55 crore (down 0.73% YoY) and employee expenses stood at Rs 246.38 crore (up 11.59% YoY).

On a standalone basis, the company net profit surged 25.3% to Rs 691.61 crore on 15.52% increase in total revenue to Rs 2,293.91 crore in Q1 FY23 over Q1 FY22.

Divis Laboratories is engaged in the manufacture of active pharmaceutical ingredients, intermediates and nutraceutical ingredients.

Shares of Divis Laboratories slipped 3.87% to Rs 3,795 on the BSE.