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Q2FY23 Preview: Dr. Reddy's Laboratories: Revenue seen at Rs58,389 million, PAT at Rs8,869 million

27 Oct 2022 , 07:38 AM

Result date: 28th October, 2022
Recommendation: Buy
Target price: Rs4,450
(Source: IIFL Research)

Dr. Reddy's Laboratories (DRL) is likely to post muted set of results for the quarter ended September 30, 2022. Growth in Russia sales, as well as favorable currency would augur well for the company. DRL’s US sales could grow at a healthy pace post launch of gRevlimid. Overall, revenue could grow 11.9% sequentially and 1.3% over the year-ago quarter.

The company’s EBITDA though could come under pressure amid a high base of September 2021 quarter wherein DRL registered one off milestone income.

DRL’s Profit After Tax (PAT) could decline 4.8% over the year-ago quarter and 25.3% sequentially owing to volatility in emerging market currencies.

Important management insights to watch out for:

  • Outlook on margins
  • US sales excluding gRevlimid

 

Rs. Million September 2022 estimates QoQ change YoY change
Revenue 58,389 11.9% 1.3%
EBITDA 13,492 42.5% 0.9%
Profit After Tax 8,869 (25.3)% (4.8)%

Source: Brokerage Reports

Related Tags

  • Dr Reddys Laboratories
  • Dr. Reddys Q2FY23 preview
  • DRL Q2FY23 preview
  • Q2FY23
  • September 2022 quarter
  • September quarter
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