Dr Reddy’s Q2 net profit up 30%

Hyderabad: Hyderabad-based Dr Reddy’s Laboratories reported a consolidated profit after tax (PAT) of Rs 992 crore for the quarter, up 30 per cent from Rs 762 crore reported in the corresponding quarter last year. The company’s revenues saw a 18 per cent jump at Rs 5,763 crore for the quarter, as against Rs 4,897 crore […]

Hyderabad: Hyderabad-based Dr Reddy’s Laboratories reported a consolidated profit after tax (PAT) of Rs 992 crore for the quarter, up 30 per cent from Rs 762 crore reported in the corresponding quarter last year.

The company’s revenues saw a 18 per cent jump at Rs 5,763 crore for the quarter, as against Rs 4,897 crore in the same period last year. The revenues got a boost due to the growth in its generics business which grew 19 per cent year-on-year and strong growth in its proprietary business which had a robust growth of 195 per cent on a year-on-year basis.

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Commenting on the results, Dr Reddy’s co-chairman & MD, GV Prasad said, “While we continue to strengthen our core businesses of generics and APIs, we are also making investments in our long-term growth drivers and deeper innovation capabilities.”

The company filed two new ANDAs (Abbreviated New Drug Application) during the quarter. As of 30th September 2021, cumulatively 93 generic filings are pending for approval with the USFDA (90 ANDAs and three NDAs (New Drug Application) under S0S(b)(2) route).

Emerging markets grew 50 per cent y-o-y to Rs 1,299 crore from Rs 864 crore. India too grew by 25 per cent to Rs 1,140 crore from Rs 912 crore last year, driven by increase in sales volumes of our existing products, including Covid products, new product launches and increase in sales price of existing products.

Revenues from Pharmaceutical Services and Active Ingredients (PSAI) business fell marginally by two per cent y-o-y from Rs 851 crore to Rs 837 crore.

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