Dr Reddy’s Q2 net profit jumps 30 pc to Rs 992 cr

By: |
October 29, 2021 4:29 PM

The company had posted a net profit of Rs 762.3 crore for the corresponding period of the previous financial year, Dr Reddy's Laboratories said in a regulatory filing.

Its consolidated revenue during July-September 2021 stood at Rs 5,763.2 crore. It was Rs 4,896.7 crore in the year-ago period, it added.Its consolidated revenue during July-September 2021 stood at Rs 5,763.2 crore. It was Rs 4,896.7 crore in the year-ago period, it added.

Drug major Dr Reddy’s Laboratories on Friday reported a 30 per cent jump in its consolidated net profit to Rs 992 crore for the quarter ended September 30, 2021, on account of robust sales in all markets. The company had posted a net profit of Rs 762.3 crore for the corresponding period of the previous financial year, Dr Reddy’s Laboratories said in a regulatory filing.

Its consolidated revenue during July-September 2021 stood at Rs 5,763.2 crore. It was Rs 4,896.7 crore in the year-ago period, it added.

“I am pleased with the improvement in the financial performance across our businesses. While we continue to strengthen our core businesses of generics and APls (active pharmaceutical ingredients), we are also making investments in our long-term growth drivers and deeper innovation capabilities,” Dr Reddy’s Laboratories Co-Chairman and Managing Director G V Prasad said.

The company’s focus remains on meeting unmet patient needs around the world in keeping with its purpose, he added.

“We continue to play our role in the fight against COVID-19 by acting proactively to bring multiple preventive and curative treatment options, including a vaccine. “Our major COVID-19 products launched till now include Sputnik V vaccine, Remdesivir, Avigan and 2-deoxy-D-glucose (2-DG). We have commercialised all these products in India and some of these products in overseas markets,” Dr Reddy’s said.

Currently, Dr Reddy’s is conducting clinical trials for Sputnik Light and Molnupiravir, and is also developing several other COVID-19 drugs for treatment ranging from mild to severe conditions, it added.

Shares of Dr Reddy’s Laboratories were trading at Rs 4,857.70 per scrip on the BSE, up 6.22 per cent from its previous close.

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