Dr. Reddy’s Laboratories consolidated net profit rose 1.99 per cent to Rs 4549.80 after the company reported a 12 per cent growth in net profit to Rs 11,128 crore in the second quarter of FY23 as against PAT of Rs 9,920 crore in the second quarter of FY22.

Revenues improved by 9 per cent to Rs 63,057 crore in Q2FY23. Last year, the company posted Rs 57,632 crore in Q2.

The business of Global Generics posted a revenue of Rs 55,946 crore, up 18 per cent year on year. Meanwhile, the revenue of Pharmaceutical Services and Active Ingredients was Rs 6,434 crore in Q2FY23.

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Profit before tax in the second quarter of FY23 stood at Rs 16,111 crore, up by 27 per cent from Rs 12,681 crore in FY22.

Research and Development expenses rose by 9 per cent yearly to Rs 4,869 crore in the second quarter of FY23.

G V Prasad, co-chairman & MD, said: “We are pleased with the strong financial performance in the current quarter, driven by the launch of Lenalidomide capsules in the US market. We aim to build a robust pipeline with products that improve affordability and patient access to progress well in our productivity, innovation and sustainability agenda.”

This lab is to be engaged in providing medicines and to operate in three segments named as pharmaceutical services, global generics and active ingredients (PSAI).