dropping from Rs 1,480 crore to Rs 1,255 crore. The pharmaceutical company released its financial results for the quarter and half year ended September 30, 2024.
According to the company’s statement, EBITDA for the quarter rose 5% year-on-year to Rs 2,280 crore in the July-September 2024 period, while margins improved marginally to 28.4% in the same period.
“We delivered another good quarter and maintained the growth momentum across businesses. We made progress on our future growth drivers, operationalized our venture with Nestlé and completed the acquisition of Nicotinell and related brands. We will continue to drive efficiency, strengthen our core businesses, and positively impact patient lives through science and innovation,” G V Prasad, Co-Chairman & MD, said.
According to the company, the strong revenue growth during the quarter was primarily driven by growth in global generics revenues. The sequential growth was led by global generics revenues in Emerging Markets, India, Europe as well as PSAI.
Meanwhile, the global generics revenues during the second quarter came in at Rs 7160 crore, showing a YoY growth of 17%, driven by improved sales volumes and new product launches.
The North America revenues clocked a growth of 17% YoY to Rs 3730 crore, largely on account of increase in sales volumes, partly offset by price erosion.
During the quarter, Dr. Reddy’s launched four new products in the region, all of which were in the US. A total of 7 products were launched during the half year ended September 2024.
Dr Reddy’s saw India business revenues rising at 18% YoY to Rs 1400 crore, which was led by revenues from the vaccine portfolio in-licensed from Sanofi, new products launched as well as price increases, the company stated.
