Dr Reddy's Q3 Net Profit Soars 11% To rs 1,378.9 Crore

Dr Reddy's Research facilities Ltd. (DRL) beat expert assumptions to report a net profit of ₹1,378.9 crore in the second from last quarter finished December (Q3FY24), a 11% year-on-year rise, helped by piece of the pie gains. During that time, the Hyderabad-based company's revenue increased by 7% to 7,214.8 crore.

Analysts polled had estimated revenues of ₹6,981.8 crore and a net profit of ₹1,313.2 crore for the quarter, as per livemint.

“We delivered another quarter of highest-ever sales and robust financial performance, aided by new products performance and base business market share gain in the US, new products launch momentum, and strong performance in Europe," said GV Prasad, co-chairman and managing director, Dr Reddy’s in a filing.

During the December quarter, earnings before interest, taxes, depreciation, and amortization (Ebitda) totaled 2,110.7 crore, resulting in an Ebitda margin of 29.3%. Research and development costs came in at ₹556.5 crore, driven by the continuous clinical preliminaries and improvement endeavors for a different item pipeline, including little particles and biosimilars. According to an exchange filing, capital expenditure for the quarter was 310 crore yen, with a free cash flow of 20 crore yen and a net cash surplus of 5,910 crore yen.

Worldwide generics, the organization's backbone, revealed a 7% increment in income to ₹6,310 crore. Homegrown generics deals contained 16% of worldwide deals, with an income of ₹1,180 crore, denoting a 5% increment because of new item dispatches in India. The pharma firm sent off three new brands in the Indian market during Q3FY24. " The arranged decrease in CIDMUS (cardiovascular medication) costs alongside divestments had an effect," MV Ramana, Chief of marked markets (India and developing business sectors) of DRL, told Mint while making sense of the more slow presentation in the country.