Hyderabad-based Dr Reddy’s Q3 net profit jumps multi-fold to Rs 707 crore

Hyderabad: Hyderabad-based pharmaceuticals company Dr Reddy’s Laboratories reported a multi-fold increase in its consolidated net profit at Rs 706.5 crore for the quarter ended 31 December 2021, up from Rs 19.8 crore in the corresponding quarter last fiscal. The company’s revenues went up to Rs 5,319.7 crore during the third quarter compared to Rs 4,929.6 […]

Hyderabad: Hyderabad-based pharmaceuticals company Dr Reddy’s Laboratories reported a multi-fold increase in its consolidated net profit at Rs 706.5 crore for the quarter ended 31 December 2021, up from Rs 19.8 crore in the corresponding quarter last fiscal.

The company’s revenues went up to Rs 5,319.7 crore during the third quarter compared to Rs 4,929.6 crore in the corresponding period of the previous fiscal.

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Global generics accounted for Rs 4,450.8 crore during the third quarter of FY22 while pharmaceutical services and active ingredients (PSAI) contributed Rs 727.1 crore of revenues and proprietary products and others contributed Rs 141.8 crore revenues.

Dr Reddy’s EBITDA stood at Rs 1,266 crore during the third quarter, up seven per cent year-on-year, while R&D expenses stood at Rs 416 crore during the third quarter, accounting for 7.8 per cent of the revenues.

Commenting on the results, Dr Reddy’s co-chairman & MD, GV Prasad said, “We delivered a steady performance in Q3 with healthy EBITDA and strong cash generation, while continuing to invest in building a pipeline of products across businesses.”

Covid portfolio
The company’s major Covid-19 products launched till now include Sputnik V vaccine, Remdesivir, Avigan (Favipiravir), 2-deoxy-D-glucose (2-DG) and Molnupiravir.

“We have commercialised all these products in India and few of these products in overseas markets. We have conducted clinical trials for Sputnik Light and are also developing several other covid related drugs for treatment ranging from mild to severe conditions,” the company stated.

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