Dr Reddy’s Q2 profit rises 14 per cent to Rs 1,437 crore
Dr Reddy's Laboratories reported a 14.5 per cent rise in consolidated Q2 profit to Rs 1,437 crore, driven by strong branded sales. Revenue grew to Rs 8,805 crore, with robust performance in Europe, India, and emerging markets offsetting North America declines
New Delhi: Dr Reddy’s Laboratories on Friday posted a 14.5 per cent increase in its consolidated profit after tax to Rs 1,437 crore for the second quarter ended September 30, aided by robust sales in branded markets.
The Hyderabad-based drug maker reported a profit after tax (PAT) of Rs 1,255 crore in the July-September quarter of the last financial year. Its revenue rose to Rs 8,805 crore in the second quarter against Rs 8,016 crore in the year-ago period, Dr Reddy’s Laboratories said in a regulatory filing.
“Growth in Q2 was driven by momentum in branded markets and steady contributions from the Nicotine Replacement Therapy (NRTJ portfolio, which helped offset the decline in US Lenalidomide sales,” Co-Chairman and MD GV Prasad stated.
The company remains focused on strengthening its core business, advancing key pipeline assets, driving productivity, and pursuing business development initiatives, he added. The drug maker noted that the growth during the second quarter was broad-based across key markets, except for North America Generics, which witnessed higher price erosion in select products and lower lenalidomide sales.
North America sales stood at Rs 3,241 crore, a year-on-year drop of 13 per cent compared to Rs 3,728 crore. Europe revenue increased to Rs 1,376 crore compared to Rs 577 crore in the year-ago period.
India’s revenue gained 13 per cent to Rs 1,578 crore for the July-September quarter. Emerging markets saw a revenue growth of 14 per cent to Rs 1,655 crore in the second quarter. Pharmaceutical Services and Active Ingredients (PSAI) business vertical reported a revenue of Rs 945 crore against Rs 841 crore, a rise of 12 per cent.
Dr Reddy’s shares on Friday ended 0.32 per cent up at Rs 1,284 apiece on BSE.
