iifl-logo

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

sidebar image

Dr Reddy's Reports 18% Rise in Q1 Profit, Driven by Strong Sales in North America and Russia

27 Jul 2023 , 01:12 PM

Dr Reddy’s Laboratories, an Indian pharma company, reported an 18% rise in first-quarter profit, surpassing expectations. The company’s consolidated profit reached 14.03 billion rupees ($171.09 million), up from 11.88 billion rupees last year.

Consolidated revenue jumped 29% to 67.38 billion rupees, driven by strong sales in its mainstay generic drugs business in North America and Russia. Revenue from the generic business in North America surged 79%, backed by successful new product launches.

However, revenue from the generic drugs business in India fell 14%. Dr Reddy’s launched 25 products in the last financial year, including Lenalidomide, a generic version of cancer drug Remilivid and Sorafenib.

Six new products were launched in the United States during the quarter. Quarterly revenue was boosted by Lenalidomide sales and 75% revenue growth in Russia compared to last year.

The positive financial performance of Dr Reddy’s shares in Nifty Pharma Index showcases success in the generic drugs market, especially in North America and Russia, as it continues to expand and achieve significant growth.

For feedback and suggestions, write to us at editorial@iifl.com

Dr Reddy

Related Tags

  • Dr Reddy's Q1
  • Dr Reddys
sidebar mobile

BLOGS AND PERSONAL FINANCE

Read More

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

Knowledge Center
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Capital Services Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Loading...

Follow us on

facebooktwitterrssyoutubeinstagramlinkedintelegram

2025, IIFL Capital Services Ltd. All Rights Reserved

ATTENTION INVESTORS

RISK DISCLOSURE ON DERIVATIVES

Copyright © IIFL Capital Services Limited (Formerly known as IIFL Securities Ltd). All rights Reserved.

IIFL Securities Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)

ISO certification icon
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.