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Dr Reddy’s Laboratories Limited posted their quarterly financial report with a profit after tax at Rs 504 crores, surging 77%for the quarter ended September 30, as against Rs 387.6 crore in the July-September quarter of FY18.
According to a press statement released by Dr Reddy’s Laboratories, revenues for the quarter under review stood at Rs 3798 crores, registering a 7 per cent rise as compared to Rs. 3546 crores in the corresponding quarter last fiscal.
According to the company’s statement, revenues from Global Generics segment in the Q2 was reported at Rs 3050 crore a year-on-year growth of 7 per cent over the same quarter last year, primarily driven by contributions from Emerging Markets, India and favourable forex.
G V Prasad, Co-chairman and CEO, stated “I am encouraged by our performance and progress in the second quarter. Our continuous focus on execution, operational efficiency and cost optimization are showing results.”
Prasad added that “Looking ahead, our priority will be to resolve pending regulatory issues, and continue to work on execution and cost structures that will enable affordable medicines for more patients.”
Revenues from Pharmaceutical Services and Active Ingredients was at Rs 600 crore in the second quarter with 7 per cent growth against the Q2 FY18. Dr Reddy’s Laboratories announced prior to this week that it will sell its active pharmaceutical ingredient (API) business unit in Hyderabad to generics pharmaceutical company Therapiva Private Ltd.
