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Profit before tax dropped 56.08% to Rs 468.04 crore in Q4 FY23 as compred with Rs 1,065.69 crore in Q4 FY22.
Total income slipped 22.44% to Rs 1,974.32 crore in Q4 FY23 as compared with Rs 2,545.54 crore in corresponding quarter last year.
Total expense increased by 1.79% year on year to Rs 1,506.28 crore in Q4 FY23, Employee benefit expenses was at Rs 251.94 crore (up 0.18% YoY) while cost of material consumed stood at Rs 792.65 crore (down 14.62% YoY) during the period under review.
The company recorded forex loss of Rs 3 crore in Q4 FY23 as compared with forex gains of Rs 29 crore posted in corresponding quarter last year.
On full year basis, the company's net profit declined 38.68% to Rs 1808.15 crore on 14.13% fall in revenue to Rs 7,625.30 crore in FY23 over FY22.
Meanwhile, the board has recommended a dividend of Rs 30 per equity share for FY23.
Divis Laboratories is engaged in the manufacture of active pharmaceutical ingredients, intermediates and nutraceutical ingredients.
The scrip declined 1.86% to settle at Rs 3,097.75 on Friday, 19 May 2023.
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