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HomeUncategorizedDr. Reddy’s Lab Q1 Net Jumps 52pc

Dr. Reddy’s Lab Q1 Net Jumps 52pc

Dr. Reddy’s Lab (DRL) reported 52 per cent year-on-year (y-o-y) jump in its net profit to Rs. 550 crore for the quarter ending June 30, 2014 mainly driven by higher growth in North America, select emerging markets and India.

Its revenue grew 24 per cent y-o-y to Rs. 3,520 crore in the reporting period.

Gross profit margin of the company grew to 59.3 per cent in the quarter as against 52.8 per cent in the same quarter last fiscal.

Its revenue from North America grew 51 per cent y-o-y to Rs. 1,650 crore and its emerging markets revenues grew 19 per cent y-o-y to Rs. 710 crore.

DRL has launched 25 new generic products and filed 27 new product applications globally during the April-June quarter.

DRL shares closed 2.01 per cent higher on Wednesday at Rs. 2,822.25 against 0.55 per cent gain in Nifty.

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