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Dr Reddy’s Lab Q2 plunges 1 per cent to Rs 305 crore

Dr Reddy’s Laboratories (DRL) on Tuesday reported a marginal decline of 1.13 per cent in consolidated net profit to Rs 305.4 crore for the second quarter ended September 30, 2017.

The drug major had posted a net profit of Rs 308.9 crore in July-September a year ago, DRL said in a filing to BSE.

DRL’s total revenue during the quarter under review stood at Rs 3,559.8 crore, down 1.56 per cent, as against Rs 3,616.3 crore a year ago.

“Healthy performance in India, emerging markets, Europe and PSAI business as well as continued focus on cost control have contributed to sequential growth in our topline as well as bottomline with an EBITDA increase of 105 per cent over the previous quarter,” Dr Reddy’s co-chairman and CEO GV Prasad said.

Total expenses were down 2.48 per cent to Rs 3,182.9 crore as against Rs 3,264.1 crore.

During the period, revenue from DRL’s pharmaceutical service and active ingredients (PSAI) business was down 4.35 per cent to Rs 721 crore as against Rs 753.8 crore.

Revenue from its global generics in the said quarter was also down 1.78 per cent to Rs 2,867.2 crore.

However, contribution from proprietary segment was up 23.80 per cent to Rs 72.8 crore as against Rs 58.8 crore.

Shares of Dr Reddy’s Laboratories were trading at Rs 2,486.10 per scrip, up 2.18 per cent, on BSE.

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