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Dr Reddy's Q4: Firm declares dividend of ₹40, check details here

The final dividend will be paid on or after five days from the date of declaration of the final dividend.

Dr Reddy's Lab Pic by Bharath SaiPremium
Dr Reddy's Lab Pic by Bharath Sai

Pharmaceutical major Dr Reddy's Laboratories has declared a final dividend of 40 (800%) per equity share of face value of 5 on Wednesday. Apart from this, the company also announced its Q4 results for FY23 and the overall yearly performance.

The final dividend will be paid on or after five days from the date of declaration of the final dividend by the shareholders at the annual general meeting.

“Recommended a final dividend of Rs. 40/- (800%) per equity share of Rs. 5/- each for the financial year 2022-23. The dividend will be paid on or after five days from the date of declaration of the final dividend by the shareholders at the 39th Annual General Meeting (AGM)," said Dr Reddy's in its regulatory filing.

In the last one year, Dr Reddy's Laboratories has declared an equity dividend of 600 per cent amounting to 30 per share. At the current share price this results in a dividend yield of 0.62 per cent.

Dr Reddy's Laboratories recorded a manifold rise in its net profit to 959.2 crore for the quarter ended March 31, from 87.5 crore in the same period last year.

However, sequentially, the PAT witnessed a decline as against 1,243.9 crore in Q3FY23.

The revenue from operations rose 15.81 percent year-on-year to 6296.8 crore, up from 5,436.8 crore in Q4 of FY22.

Sales from the generic of Revlimid and new launches were the key contributors to the strong traction in the US market. The domestic formulations business also aided revenues as it posted double-digit growth.

The company's share ended 1.33 per cent at 4,865 on BSE.

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Published: 10 May 2023, 06:03 PM IST
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