Dr Reddy's Q2 Profit Dips 9%, Revenue Up 17%

Hyderabad, Nov 5 (PTI) Dr Reddy's Laboratories Ltd on Tuesday said its consolidated profit after tax for the quarter, ended September 30, was down by nine percent to Rs 1,342 crore (before non-controlling interest) compared to the same period last fiscal.


The drugmaker reported a profit after tax of Rs 1,480 crore in the second quarter of FY24.



A press release from the company stated that consolidated revenues during the quarter under discussion were up by 17 percent to Rs 8,016 crore compared to Rs 6,880 crore in Q2 FY24.



DRL co-chairman and managing director said the company delivered another strong quarter and maintained growth momentum across its businesses.



“We made progress on our future growth drivers, operationalised our venture with Nestlé, and completed the acquisition of Nicotinell and related brands. We will continue to drive efficiency, strengthen our core businesses, and positively impact patient lives through science and innovation,” he said.