Home / Companies / Company Results /  Dr Reddy's Q3 net profit surges 77% to 1,247 cr

Dr Reddy's Laboratories  Ltd on Wednesday reported consolidated net profit surge by 76.5 per cent to 1,247 for the quarter ended December 2022. This is against a consolidated net profit of 706.5 crore for corresponding quarter last fiscal.

The total revenue from operations was up by 27 per cent to 6770 crore as against 5319.7 crore, in the corresponding quarter last year.

The earnings before interest, taxes, depreciation and amortization (EBITDA) grew 14.3 per cent on year to 1,407.56 crore.

"Our strong financial performance was supported by growth in the US and the Russia markets. We continue to strengthen our development pipeline to reach more patients globally," said Co-chairman & MD, G V Prasad, Dr Reddy's.

The revenues in the global generics segment came in at 5924.1 crore. It grew 33 per cent year-on-year growth and 6 per cent sequentially primarily driven by new product launches, increase in volumes of our base business and favourable forex movement, offset partially due to price erosion in our generic markets, the company said.

North America market saw revenue growth of 64% YoY, Europe 6%, India 10% and emerging markets 14%.

The revenues from North America came at Rs. 30.6 billion. It recorded year-on-year growth of 64%, driven by new products launches, increase in volumes and a favorable forex movement, which was partly offset by price erosion, said Dr Reddy Labrotories.

While, revenues from Europe and India market was at Rs. 4.3 billion and Rs. 11.3 billion respectively.

The company's scrip was down by 1.24per cent at 4200 on BSE.

Catch all the Corporate news and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less

Recommended For You

Trending Stocks

Get alerts on WhatsApp
Set Preferences My ReadsWatchlistFeedbackRedeem a Gift CardLogout