Dr Reddy's Laboratories (DRL), India's third largest pharmaceutical company with a turnover of Rs. 24,600 plus, posted a 33 percent group net profit growth in the second quarter ended September 2023, with strong revenue growth in North America and Europe. DRL's consolidated net profit grew to Rs. 1482 crores from Rs. 1114 million in the corresponding quarter of the previous year. Its consolidated revenue grew 9 percent to Rs. 6,903 crore from Rs. 6332 crore in the last period. EPS of face value Rs. 5 each worked at Rs. 80.09 compared to Rs. 67,113. DRL's other income grew by Rs. 315 crore from Rs. 41 million euros in the corresponding quarter of the previous year. Other income for the quarter ended September 30, 2023 includes Rs.
In product disputes, the company and its subsidiaries recognized 98 million in the UK. This deal is for the company and the global generic segment, as per pharmabiz. Commenting on the results, Chairman and MD, G V Prasad said, "We delivered strong second quarter results with highest ever sales and profits driven by market share growth and US generic business and strong growth in Europe. We will continue to strengthen our supply chain both organically and through business development to accelerate growth and create differentiation. Global sales of generic drugs grew by Rs. 6113 crore for the quarter ended September 2023. 5.601 million. Total sales in North America jump 13 percent to Rs. 3,170 crore from Rs. 2,800 crore and in Europe it grew by 26 percent to Rs. 529 crore from Rs. 420 million. Growth was driven by core portfolio growth rates, Mayne integration, and favorable exchange rate transition, partially offset by price erosion. Indian sales rose 3 percent to Rs. 1186 crore from Rs. 1.150 million.
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