Dr Reddy’s Q4 PAT falls 76% on impairment costs

Dr Reddy's Laboratories Ltd.'s consolidated profit after tax for the fourth quarter fell 76% to ₹87 crore, compared with ₹362 crore a year ago, mainly on account of impairment costs.

The drug major accounted ₹751 crore towards impairment charges of non-current assets during the fourth quarter.

Revenues during the quarter were up 15% to ₹5,437 crore, as against ₹4,728 crore in the last quarter of FY21.

"Though there was a healthy growth in revenues profits were impacted by impairment charges. In spite of multiple external challenges, our core business performed well driven by an increase in market share, some launches and productivity improvement. We will continue to focus on growing our core businesses, invest in future growth drivers and work towards greater integration of sustainability in our businesses," Dr Reddy's MD GV Prasad said.

The company's board has recommended a final dividend of ₹30 per share for the financial year 2021-22. The dividend will be paid on or after five days from the date of declaration of the final dividend by the shareholders at the AGM.