Dr. Reddy's Laboratories rose 1.99% to Rs 4549.80 after the drug maker reported 12% growth in consolidated net profit to Rs 11,128 crore in Q2 FY23 as compared with a PAT of Rs 9,920 crore recorded in the same period last year.
Revenues improved by 9% YoY to Rs 63,057 crore in the second quarter. The company had posted a revenue of Rs 57,632 crore in the same period last year.
On the segmental front, Global Generics business posted a revenue of Rs 55,946 crore (up 18% YoY) Pharmaceutical Services and Active Ingredients revenue was Rs 6,434 crore (down 23% YoY) and 'Others' revenue was Rs 677 crore (down 63% YoY) in the second quarter.
In the Global Generics segment, North America recorded revenue growth of 48% YoY, followed by Europe (up 2% YoY) and India (up 1% YoY). Emerging Markets division, however, witnessed a contraction in revenue of 6% on YoY basis.
Profit before tax in Q2 FY23 stood at Rs 16,111 crore, up by 27% from Rs 12,681 crore in Q2 FY22.
Also Read
Research and Development expenses rose by 9% YoY to Rs 4,869 crore in Q2 FY23.
G V Prasad, co-chairman & MD, said: "We are pleased with the strong financial performance in the current quarter, driven by the launch of Lenalidomide capsules in the US market. Our focus is to build a robust pipeline with products that improve affordability and access to patients to progress well in our productivity, innovation and sustainability agenda.
Dr Reddy's Labs is engaged in providing medicines. The firm operates in three segments: global generics, pharmaceutical services and active ingredients (PSAI) and proprietary products.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
