Dr. Reddy’s Laboratories Ltd.’s reported a profit rise for the third straight quarter at. Rs 485.2 crores, on the back of higher demand in emerging markets. The drugmaker posted a 45.1 per cent year-on-year incline in profit levels.
The third-largest drugmaker in India in its exchange filing said that the net sales rose 1 per cent on a yearly basis to Rs 3,850 crore. GV Prasad, co-chairman and chief executive officer of Dr. Reddy’s adding, “We continued to improve our performance in the third quarter, supported by significant growth in emerging markets and India, pickup in new product launches and improvement in cost structure.”
The company’s earnings before interest, tax, depreciation and amortisation (EBITDA) surged 6 per cent to Rs 815 crores. The operating margin expanded 90 basis points to 21.1 per cent. According to the company’s statement, the sales from emerging markets (including India) surged 31 per cent Y.o.Y to Rs 774.4 crores during the quarterly period ended in December.
The company’s revenue from pharmaceutical services and active ingredients also increased by 6.6 per cent to Rs 723.2 crores, while that from global generics increased 4 per cent to Rs 3,134.7 crore.
Read EquityPandit’s Dr. Reddy Outlook for the Week