Dr Reddy’s PAT more than doubles to Rs 1,093 crore in Q2

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Published: November 1, 2019 2:56:49 PM

Commenting on the results, Co-Chairman and Managing Director, GV Prasad said "I am pleased with our performance across the businesses and strong cash generation during the quarter. We are progressing well in execution of our strategy and in our transformation journey on quality and efficiency."

Dr Reddy's Laboratories Limited, Dr Reddy's Laboratories Limited profit, USFDA, PSAIRevenue for the quarter under review was up by 26 per cent at Rs 4,801 crore against Rs 3,798 crore in the same quarter last fiscal, it said.

Dr Reddy’s Laboratories Limited’s profit after tax for the quarter ended September 30 was up 117 per cent to Rs 1092.50 crore against Rs 503.80 crore for the second quarter of FY19, the drug maker said in a filing with bourses on Friday. Revenue for the quarter under review was up by 26 per cent at Rs 4,801 crore against Rs 3,798 crore in the same quarter last fiscal, it said.

Commenting on the results, Co-Chairman and Managing Director, GV Prasad said “I am pleased with our performance across the businesses and strong cash generation during the quarter. We are progressing well in execution of our strategy and in our transformation journey on quality and efficiency.”

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Revenues from global generics segment was at Rs 3,280 crore with year-on-year growth of seven per cent, primarily driven by Europe, Emerging Markets and India. Revenues from North America was at Rs 1,430 crore with a flat growth over last year same quarter while declined sequential by 13 per cent, on account of price erosion and lower volumes.

Further impact on account of voluntary recall of ranitidine and temporary disruption in supplies due to logistics issues faced during this quarter, the company said. Revenues from Pharmaceutical Services and Active Ingredients (PSAI) grew by 18 per cent to Rs 710 crore. As of September 30, cumulatively 99 generic filings are pending for approval with the USFDA, the drug maker said.

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