Dr Reddy's Q2 Result: Pharma Firm's PAT Jumps 33 Per Cent To Rs 1,482 Crore
Dr Reddy's consolidated total revenue from operations was at Rs 6,902.6 crore, up 9 per cent, compared to Rs 6,331 crore in the year-ago period
Led by the US generics market, Indian pharma giant Dr Reddy's Laboratories on Friday logged a 33 per cent rise in its consolidated profit after tax (PAT) at Rs 1,482 crore in the second quarter (Q2) ended September 30. The pharma firm had reported a consolidated PAT of Rs 1,114 crore in the same quarter a year ago.
Dr Reddy's consolidated total revenue from operations was at Rs 6,902.6 crore, up 9 per cent, compared to Rs 6,331.8 crore in the year-ago period. Its total expenses in the September quarter were up 11.14 per cent to Rs 5,305.1 crore. Dr Reddy's Laboratories' total income in the September quarter was at Rs 7,217.6 crore, up 13.25 per cent.
"We delivered another quarter of strong results with highest ever sales and profits, driven by market share gains & momentum in our US generics business and robust growth in Europe. We are continuing to strengthen our pipeline both organically and through business development to drive growth and create differentiation," G V Prasad, co-chairman and MD, Dr Reddy's, said.
Dr Reddy's global generics clocked a revenue of Rs 6,113 crore in Q2, up 9.14 per cent from the year-ago quarter, driven by North America, emerging markets and Europe. North America's revenue was at Rs 3,170 crore, a growth of 13 per cent, while that of Europe was at Rs 528.6 crore, with a growth of 26 per cent, the company said.
Dr Reddy's shares settled at Rs 5,385.55 on the BSE on Friday, down 0.72 per cent from its previous close.
Cipla Profit Rises 45 Per Cent To Rs 1,156 Crore
Cipla Ltd on Friday posted 45 per cent rise in its consolidated profit after tax (PAT) at Rs 1,155 crore in Q2 ended September 2023. The company had clocked a consolidated profit after tax of Rs 797.41 crore in the July-September quarter last fiscal year, as PTI reported.
Cipla's consolidated total revenue from the sale of products in the quarter under review stood at Rs 6,589 crore, up 14.41 per cent as against Rs 5,759 crore in the year-ago period. The company's total expenses in Q2 was 8.43 per cent higher at Rs 5,260.24 crore as compared to Rs 4,851.13 crore in the corresponding period last fiscal, the company said.The total income of Cipla in the September quarter was at Rs 6,854 crore, up 15.17 per cent.
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