Dr Reddy's Q4 profit jumps 76 pc to Rs 764 crore on higher sales in US, Europe

Source : ANI
Author : ANI
Last Updated: Wed, May 20th, 2020, 16:23:53hrs
Dr Reddy's Q4 profit jumps 76 pc to Rs 764 crore on higher sales in US, Europe

Hyderabad: Dr Reddy's Laboratories Ltd on Wednesday reported a net profit of Rs 764 crore during the January to March quarter, up 76 per cent from Rs 434 crore in the corresponding quarter of the previous financial year.

The company reported a revenue of Rs 4,432 crore, up 10 per cent from the year-ago period. Its global generics segment clocked 20 per cent year-on-year jump to Rs 3,640 crore.

The earnings before interest, taxes, depreciation and amortisation (EBITDA) came at Rs 1,001 crore while EBITDA margin was at 22.6 per cent.

"FY 20 has been a very positive year for the company," said Co-Chairman and Managing Director G V Prasad. "Progress made during the year includes VAi status for CTO 6, healthy product pipeline build-up, productivity improvement and strong financial performance across our businesses.

"Among the geographies, Europe's segment saw a jump of 80 per cent in revenue while North America and emerging markets rose 21 per cent and 15 per cent respectively. India segment rose 5 per cent year-on-year.

Dr Reddy's said various initiatives have been undertaken to ensure that our manufacturing-related operations continue unabated enabling it to serve the patients. A few products related to COVID-19 are under development.

The board of directors has recommended a final dividend of Rs 25 (500 per cent) per equity share of Rs 5 face value for the financial year 2019-20.

During the quarter, Dr Reddy's acquired select divisions of Wockhardt Ltd's branded generics business in India and a few other international territories like Nepal, Sri Lanka, Bhutan and Maldives.

The deal comprising a portfolio of 62 brands in multiple therapy areas was done on a slump sale basis for a consideration of Rs 1,850 crore.