Hyderabad-based Dr Reddy's Laboratories Limited has reported a 32% jump in net profit at Rs 407.4 crore for the quarter ended September, 2012 from Rs 307.8 crore in the corresponding quarter last year. However, gross profit margin at 53.1% in the second quarter saw a 0.7% decline over that of the corresponding previous quarter.
The revenues grew by 27% to Rs 2,880.9 crore from Rs 2,2678 crore in the year ago period on the back of 47% revenue growth from North America (Rs 930 crore) while the revenues from global generics grew by 25% growth at Rs 2000 crore.
Revenue growth in generics business from other key markets such as Russia and CIS (Rs 380 crore), India (Rs 390 crore) grew by 14% 12% respectively while the revenues from Europe (Rs 180 crore) declined by 16%.
The company said the growth is largely driven by key limited competition products of ziprasidone, tacrolimus, fondaparinox, clopdogrel, ramp-up in antibiotics portfolio and produces from Shreveport facility.
Revenues from Pharmaceutical services (PSAI) segment , which accounted for 26% of the total revenues in the quarter under review have grown by 33% at Rs 787.6 crore as compared to Rs 593.3 crore in the year ago period.
The loans and borrowing, both current and non-current, in the company balance sheet have come down to Rs 3,490.1 crore by September 2012 from Rs 3,543 crore as on June 30,2012, according to a company press release.