Q3FY25 Results: Dr. Reddy’s Laboratories reports over 2 percent rise in profit YoY; Revenue at Rs 8358.6 crore

Pharma major Dr. Reddy’s Laboratories Ltd. on Thursday announced its consolidated financial results for the quarter and nine months ended December 31, 2024. The company reported rise in net profit of 2.5 percent year-on-year to Rs 1,413.3 crore.

According to the company’s statement, Q3 revenue jumped 16 percent on-year to Rs 8,358.6 crore. The pharma major maintained that underlying YoY growth excluding NRT is 7.5% and a decline of 3% QoQ.

According to the company, the growth was largely driven by revenues from the recently acquired Nicotine Replacement
Therapy (NRT) portfolio, revenues from India and Emerging Markets.

“We delivered double digit growth aided by our newly acquired NRT business, new launches and improved operational efficiencies.  We remain committed to addressing patient needs by advancing healthcare through access, affordability and innovation,” Co-Chairman & MD, G V Prasad said.

In the Global Generics Business, the company reported Q3FY25 revenues at Rs.7380 crore, YoY growth of 17% and QoQ growth of 3%. Underlying growth excluding NRT is 7% YoY and a decline of 5% QoQ. 9MFY25 revenues at Rs.2142 crore, a YoY growth of 16%. Underlying YoY growth excluding NRT is 13% for 9MFY25. Growth was largely driven by revenues from the acquired NRT portfolio, higher volumes and new product launches, the company stated.

In the India Business, Q3FY25 revenues at Rs. 1350 crore, YoY growth of 14% and QoQ decline of 4%. 9MFY25 revenues at Rs.407 crore, YoY growth of 16%. Growth was led by revenues from the in-licensed vaccine portfolio, new product launches as well as price increases, partially offset by lower volume pick-up in certain brands in Cardiac and Gastro-intestinal therapy areas.

During the quarter, we launched six new brands in the country, taking the year-to-date total to 22, the company stated.

The company’s EBITDA for the fiscal third quarter was at Rs 2,298 crore, growing at 8.9% from last year. However, the EBITDA margin shrank to 27.5 percent during the October-December quarter from 29.3% in the same quarter previous year.