Dr Reddy’s posts 15% y-o-y decline in Q2 net profit at ₹1,255 Crore

6 Nov 2024 , 09:25 AM

Dr Reddy’s Laboratories reported a 15% reduction in consolidated net profit to ₹1,255 Crore in the second quarter. It was ₹1,480 Crore in the previous corresponding quarter.

In the same period, revenue from operations was ₹8,016 Crore, a 17% increase over the previous year.

EBITDA for the quarter increased 5% year-on-year to ₹2,280 Crore between July and September 2024, while margins improved modestly to 28.4%.

The robust revenue growth during the quarter was principally driven by an increase in worldwide generics revenues. The sequential gain was driven by global generics revenues in Emerging Markets, India, Europe, and PSAI.

Global generics revenues in the second quarter were ₹7,160 Crore, up 17% year-on-year, primarily due to higher sales volumes and new product launches.

Revenues in North America increased by 17% year-on-year to ₹3730 Crore, owing mostly to higher sales volumes, which were somewhat offset by price erosion. 

During the quarter, the pharmaceutical company introduced four new drugs in the region, all of which were in the United States. During the half-year ending September 2024, a total of seven goods were launched.

Europe’s revenues increased 9% year on year to ₹1580 Crore, owing to portfolio leverage to introduce new items, which was somewhat offset by price erosion.

Dr Reddy’s India business revenues increased by 18% year-on-year to ₹1400 Crore, driven by income from Sanofi’s in-licensed vaccine portfolio, new product launches, and price hikes.

For feedback and suggestions, write to us at [e-mail]