Dr Reddy’s posts Q3 profit of Rs 19.8 crore

Total revenue from operations stood at Rs 4,929.6 crore for the third quarter, up 12.38 per cent year-on-year

Hyderabad: Hyderabad-based pharmaceuticals company Dr Reddy’s Laboratories posted a consolidated net profit of Rs 19.8 crore for the third quarter ended December 31, 2020, compared to the net loss of Rs 569.7 crore crore recorded during the same period of the previous fiscal.

The company’s total revenue from operations stood at Rs 4,929.6 crore for the third quarter, up 12.38 per cent. During the third quarter ended December 31, 2019, the revenue from operations was at Rs 4,383.8 crore.

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The company’s revenues in India increased by 26 per cent year-on-year to Rs 959.1 crore in Q3 FY21 compared to Rs 763.6 crore in the corresponding quarter last year.

In North America, the sales rose nine per cent to Rs 1,739.4 crore in Q3 FY21 compared to Rs 1,599.9 crore in the corresponding quarter last year. Europe saw a jump of 34 per cent year-on-year with revenues going up from Rs 309.3 crore to Rs 414.3 crore.

“We continued with our growth momentum while maintaining EBITDA (earnings before interest, taxes, depreciation and amortisation) margins,” Dr Reddy’s Laboratories co-chairman and MD G V Prasad said.

He added the profits were impacted due to trigger-based impairment charge taken on a few acquired products. ‘We are progressing well on the phase 3 clinical trials for Sputnik V vaccine in India. We continue to focus on enhancing our product offerings to our patients to serve them better,” he added.

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