Dr Reddy’s Laboratories on Friday reported a 33.02 per cent jump in its consolidated profit after tax (PAT) at Rs 1,482.2 crore in the September 2023 quarter, led by the US generics market. Its consolidated total revenue from operations during July-September 2023 rose 9 per cent to Rs 6,902.6 crore, compared to Rs 6,331.8 crore in the year-ago period.
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.
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.
G V Prasad, co-chairman & MD of Dr Reddy’s, said, “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.”
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.