Dr Reddy’s Laboratories on Friday reported a multi-fold jump in consolidated net profit at Rs 706.5 crore for the third quarter ended December 31, 2021. The drug major had logged a net profit of Rs 19.8 crore in the same period of 2020-21. Revenues stood at Rs 5,319.7 crore during the third quarter as compared with Rs 4,929.6 crore in the same period of 2020-21, Dr Reddy’s Laboratories said in a regulatory filing.
“We delivered a steady performance in Q3 with healthy EBITDA and strong cash generation, while continuing to invest in building a pipeline of products across businesses,” Dr Reddy’s Laboratories Co-Chairman and MD GV Prasad noted. The company reported a low net profit in third quarter of last fiscal year as it had taken an impairment of Rs 597.2 crore during that period. The impairment was taken on intangibles pertaining to certain products.