Dr Reddy’s shares jump 6% after robust Q4 result1 min read . Updated: 22 May 2018, 05:06 PM IST
Consolidated revenue of Dr Reddy's stood at Rs3,534.9 crore in Q4 as compared to Rs3,554.2 crore for the same period a year ago
New Delhi: Pharma firm Dr Reddy’s Laboratories Ltd on Tuesday reported a 3.29% fall in its consolidated net profit to Rs302.2 crore for the March quarter, or Q4, mainly on account of continuing headwinds in the US. The company had posted a net profit of Rs312.5 crore for the corresponding period of the previous fiscal.
Consolidated revenue of the company stood at Rs3,534.9 crore in Q4 as compared to Rs3,554.2 crore for the same period a year ago. For FY18, the company posted a net profit of Rs980.6 crore as against Rs1,203.9 crore for the year-ago period. Consolidated revenue of the company stood at Rs14,202.8 crore for the fiscal year ended 31 March 2018. It was Rs14,080.9 crore in 2016-17.
On Tuesday, Dr. Reddy’s Labs shares closed 6.30% higher at Rs2013.75 on BSE.
“We concluded a challenging year for Dr Reddy’s with a relatively muted fourth quarter performance," said Dr Reddy’s MD G.V. Prasad. This was mainly on account of continuing headwinds in the US market and a temporary drop in the sales in Russia, attributable to a shift in the channel purchasing pattern, he added.
In a separate filing, Dr Reddy’s said its board has recommended a final dividend of Rs20 per equity share of Rs5 face value for 2017-18. Shares of the company were trading at Rs1,927.90 per scrip on BSE, up 1.77% from its previous close.