Dr Reddy's Q2 PAT rises 33 pc to Rs 1,482 crore

Dr Reddy's Laboratories on Friday reported a 33.02 per cent increase in consolidated profit after tax at Rs 1,482.2 crore in the second quarter ended September 30, led by the US generics market. The company had posted a consolidated profit after tax of Rs 1,114.2 crore in the same quarter a year ago, Dr Reddy's Laboratories Ltd (DRL) said in a regulatory filing.

The consolidated total revenue from operations was at Rs 6,902.6 crore, up 9 per cent, compared to Rs 6,331.8 crore in the year-ago period.

DRL's total expenses in the September quarter were up 11.14 per cent to Rs 5,305.1 crore.

Total income of DRL in the September quarter was at Rs 7,217.6 crore, up 13.25 per cent.

"We delivered another quarter of strong results with highest ever sales and profits, driven by market share gains & momentum in our US generics business and robust growth in Europe.

"We are continuing to strengthen our pipeline both organically and through business development to drive growth and create differentiation," Co-Chairman & MD, G V Prasad said.

DRL's global generics posted a revenue of Rs 6,113 crore in Q2, up 9.14 per cent from the year-ago quarter, driven by North America, emerging markets and Europe.

North America's revenue was at Rs 3,170 crore, a growth of 13 per cent, while that of Europe was at Rs 528.6 crore, with a growth of 26 per cent, the company said.

While its revenue from 'Pharmaceutical Services and Active Ingredients' was at Rs 962.5 crore, up 16.95 per cent, as against Rs 823 crore, a year before.

Shares of Dr Reddy's Laboratories Ltd on Friday settled at Rs 5,385.55 on BSE, down 0.72 per cent from the previous close.