Dr Reddy's consolidated net dips 28% to Rs 554 crore in March quarter

Dr Reddy's Laboratories on Friday reported a consolidated net profit of Rs 554 crore for the quarter ended March, down 28 per cent from Rs 764 crore in the same period of the previous fiscal.

The company said selling, general and administrative (SG & A) expenses went up by 17 per cent to Rs 1,430 crore due to incremental costs after the integration of Wockhardt's acquired divisions and increased freight expenses.

Consolidated revenues grew 7 per cent year-on-year to Rs 4,728 crore while R&D expenses comprised 8.7 per cent of revenues at Rs 409 crore.

Earnings before interest, taxes, depreciation and amortisation (EBITDA) were up 13 per cent year-on-year during Q4 FY21 at Rs 1,133 crore.

For the entire year (FY21), profit after tax totalled Rs 1,915 crore on revenues of Rs 18,972 crore.

Co-Chairman and MD G V Prasad said the company continued to grow across all businesses, enhanced productivity and strengthened development pipeline.

"We are prioritising our efforts to launch Sputnik V vaccine across India while working on the development and commercialisation of several drugs for the treatment of mild to severe Covid-19 infections.