Dr Reddy's Q2 Net Profit Down 9.3%, Revenue Up 16.5% - Business News
Nov 05, 2024 18:45
Dr Reddy's Laboratories reports a 9.35% decline in Q2 net profit to Rs 1,341.5 crore, while revenue increased 16.51% to Rs 8,016.2 crore. Read more.
New Delhi, Nov 5 (PTI) Pharma major Dr Reddy's Laboratories (DRL) on Tuesday reported a 9.35 per cent decline in its consolidated net profit to Rs 1,341.5 crore for the second quarter ended September 2024.
DRL had posted a net profit of Rs 1,480 crore in the July-September quarter a year ago, according to a regulatory filing from the Hyderabad-based firm.
However, its revenue increased 16.51 per cent to Rs 8,016.2 crore in the September quarter from Rs 6,880.2 crore in the year-ago period.
"Year-on-year growth was primarily driven by growth in global generics revenues. QoQ growth was primarily driven by global generics revenues in emerging markets, India, Europe as well as PSAI," DRL said in its earnings statement.
Its total operating expenses grew 34.3 per cent to Rs 3,021.8 crore in Q2 FY25.
Its Co-Chairman and MD GV Prasad said: "We delivered another good quarter and maintained the growth momentum across businesses. We made progress on our future growth drivers, operationalised our venture with Nestle and completed the acquisition of Nicotinell and related brands".
DRL's revenue from Pharmaceutical Services and Active Ingredients rose 16.76 per cent to Rs 1,103 crore.
Its revenue from the Global Generics segment surged 17.17 per cent to Rs 7,157.6 crore in the September quarter.
This growth "was broad-based, driven by improved sales volumes and new product launches. Sequential growth was primarily driven by emerging markets and Europe", it said.
However, its revenue from the 'Others' segment fell 73.83 per cent to Rs 17.9 crore.
On the outlook, Prasad said: "We will continue to drive efficiency, strengthen our core businesses, and positively impact patient lives through science and innovation".
Shares of Dr Reddy's Laboratories (DRL) on Tuesday settled at Rs 1,272.55 on BSE, up 0.36 per cent from the previous close.
Home »
Market News » Dr Reddy's Q2 Net Profit Down 9.3%, Revenue Up 16.5% - Business News
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
MORE NEWS
Aptus Value Housing Finance Q2 Profit Up 22% to...
Aptus Value Housing Finance India Ltd reported a 22% rise in net profit to Rs 182 crore...
ICANN's New gTLD Programme: Empowering Local...
NIXI CEO discusses ICANN's new gTLD programme, empowering local businesses with new...
Hero MotoCorp to Enter Europe, UK Markets in 2025
Hero MotoCorp plans to enter Europe and the UK markets in the second half of 2025,...
Qubehealth Raises Funds, Veefin Acquires GenAI...
Qubehealth secures funding from Unicorn India Ventures and CanBank VC. Veefin acquires...
CynLr Raises USD 10 Million for Robotics Expansion
Bengaluru-based robotics startup CynLr secures USD 10 million in Series A funding, led...
Elena Geo Founder Wins Award for Helicopter...
Elena Geo Systems Founder V S Velan receives the 'Igor I Sikorsky' award for...
Akasa Air Posts Rs 1,670 Cr Loss in FY24
Akasa Air's losses widened to Rs 1,670.06 crore in FY24 despite a surge in revenue. The...
NTPC Approves Rs 80,000 Cr for 6,400 MW Thermal...
NTPC board approves investment proposals worth Rs 80,000 crore for thermal projects,...
BITS Pilani '' UKIBC Partner for Research ''...
BITS Pilani and UKIBC have signed an MoU to collaborate on research, academic-industry...
Nagaland CM Seeks Rs 40,000 Cr from Finance...
Nagaland CM Neiphiu Rio requested over Rs 40,000 crore from the 16th Finance Commission...
Read More »