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Reddy Labs Q2FY23 PAT up 12.2% yoy at Rs1,113 crore on sharp growth in operating profits in global generics

29 Oct 2022 , 11:07 AM

Dr Reddys Laboratories
Dr. Reddy’s Labs reported 9.41% growth in total revenues for the September 2022 quarter on consolidated basis at Rs6,306cr.

Revenue increase was 20.9% in sequential terms. In terms of verticals, global generics saw 18% growth at Rs5,595 crore while pharma services and API fell -19% at Rs811 crore.

The R&D expenses in the quarter at Rs487 crore accounted for 7.7% of revenues, well above industry average. Within global generics, North America grew at 48% while Europe and India revenues were flat yoy.

North America accounted for 44% of revenues followed by EMs at 19% and Indian markets at 18%.

Consolidated Profit after tax (PAT) for September 2022 quarter was up 12.2% at Rs1,113 crore and it was down -6.3% on sequential basis.

EBITDA came in at Rs1,932 crore with EBITDA margins at 30.6% for the quarter. Gross profit margins stood at 59.1% with the global generics segment enjoying 65% gross margins.

Capex is estimated at Rs250 crore for the quarter while the net debt to equity stands at 0.07X. Net profit margins at 17.65% in Q2FY23 is higher compared to 17.21% in Q1FY22 but lower than 22.77% in Q1FY23.

Financial highlights for Sep-22 compared yoy and sequentially

Dr Reddy’s Labs
Rs in Crore Sep-22 Sep-21 YOY Jun-22 QOQ
Total Income (Rs cr) ₹ 6,305.70 ₹ 5,763.20 9.41% ₹ 5,215.40 20.91%
Net Profit (Rs cr) ₹ 1,112.80 ₹ 992.00 12.18% ₹ 1,187.60 -6.30%
Diluted EPS (Rs) ₹ 66.89 ₹ 59.65 ₹ 71.40
Net Margins 17.65% 17.21% 22.77%

Related Tags

  • Dr. Reddy’s Labs management
  • Dr. Reddy’s Labs news
  • Dr. Reddy’s Labs Q2
  • Dr. Reddy’s Labs Q2FY23 PAT
  • Dr. Reddy’s Labs Q2FY23 Pharma business
  • Dr. Reddy’s Labs Q2FY23 Result
  • Dr. Reddy’s Labs quarterly results
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