Dr Reddy’s Laboratories announced its July-September quarter results for the financial year 2021-22, reporting a net profit of Rs 992 crore on a consolidated basis, compared to Rs 762 crore in the corresponding quarter last year, marking a growth of 30 per cent year-on-year.
The pharmaceutical major’s revenue from operations in the second quarter of the current fiscal stood at Rs 5,763 crore, compared to Rs 4,896 crore in the same quarter last year, registering a growth of 18 per cent year-on-year.
”….while we continue to strengthen our core businesses of generics and AP ls, we are also making investments in our long-term growth drivers and deeper innovation capabilities. Our focus remains on meeting unmet patient needs around the world in keeping with our purpose,” said Mr G V Prasad, Co-Chairman & MD, Dr Reddy’s.
The Hyderabad-based company’s consolidated operating profit rose 23 per cent on-year to Rs 1,557.2 crore, while its operating margin expanded 110 basis points on-year to 27 per cent.
Dr Reddy’s major Covid-19 products launched so far include Sputnik V vaccine, Remdesivir, Avigan (Favipiravir) and 2-deoxy-D-glucose (2-DG).
”We have commercialized all these products in India and some of these products in overseas markets. Currently, we are conducting clinical trials for Sputnik Light, Molnupiravir and are also developing several other covid drugs for treatment ranging from mild to severe conditions,” said Dr Reddy’s in its regulatory filing to the stock exchanges today.
On Friday, October 29, shares of Dr Reddy’s settled 2.12 per cent higher at Rs 4,670.05 apiece on the BSE. Dr Reddy’s opened on the BSE at Rs 4,576, swinging to an intra day high of Rs 4,915.35 and an intra day low of Rs 4,529.25, throughput the trading session today.