Dr Reddy’s posts 77% rise in Q2 net profit at Rs 503.8 crore; posts healthy operational show

Pharma major, Dr Reddy’s Laboratories, reported a rise of 77 percent (year-on-year) in its net profit at Rs 503.8 crore. The company had reported a profit of Rs 284.9 crore during the same period of last year.

The revenue rose to Rs 3,797.8 crore against Rs 3,546 crore that the company posted during the corresponding quarter of last year. This implies a rise of 7 percent.

At an operating level, the company’s earnings before interest, taxes, depreciation and amortization (EBITDA) rose to Rs 864.6 crore, a rise of 25.5 percent from Rs 688.8 crore reported during the previous year.

The operating margin came in at 22.8 percent against 19.4 percent year on year.

The company reported research and development expenses of Rs 412 crore during the quarter.

Geographies

North America business of the firm reported revenues of Rs 1,426.5 crore during the quarter, down from Rs 1,431.8 crore in Q2 of FY18.

Europe segment fell to Rs 191.5 crore from Rs 242.4 crore last year.

Its India business revenues grew to Rs 686.4 crore against Rs 637 crore in September quarter of FY18.
Revenues from emerging markets was at Rs 750 crore. Growth is primarily on account of improved volume offtake in our existing markets and scale up in our new markets, the company said in a filing to exchanges.

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