Drug firm Divi's Laboratories Ltd on Saturday reported a 64.1 percent year-on-year (YoY) decline in net profit at Rs 321 crore for the fourth quarter that ended March 31, 2023.

In the corresponding quarter last year, the company posted a net profit of Rs 895 crore. CNBC-TV18 Polls had predicted a profit of Rs 373.7 crore for the quarter under review.

In the March quarter, total revenue stood at Rs 1,950.8 crore during the period under review, declining 22.5 percent against Rs 2,518.4 crore in the corresponding period of the preceding fiscal. CNBC-TV18 Polls had predicted revenue of Rs 1,863.5 crore for the quarter under review.

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At the operating level, EBITDA declined 55.8 percent to Rs 487.6 crore in the fourth quarter of this fiscal over Rs 1,104.4 crore in the corresponding period in the previous fiscal.

EBITDA margin stood at 25 percent in the reporting quarter as compared to 43.9 percent in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.

The board of directors of the company has proposed a dividend of Rs 30 per share of face valueRs 2 each i.e., 1,500 percent for the financial year 2022-23, the company said.

First Published:May 20, 2023 4:45 PM IST