Dr. Reddy’s Labs announces Rs 40 dividend per share; PAT jumps 996%

Pharma major Dr. Reddy's Laboratories has announced a final dividend of Rs 40 per equity share that translates into a dividend payout of 800 per cent per equity share with a face value of Rs 5 for the FY 2022-23.

"Recommended a final dividend of Rs. 40/- (800%) per equity share of Rs. 5/- each for the financial year 2022-23. The dividend will be paid on or after five days from the date of declaration of the final dividend by the shareholders at the 39th Annual General Meeting (AGM)," the company said in an exchange filing. 

Dr. Reddy's Laboratories today (May 10) also released its fourth-quarter results, recording a 996.22 per cent jump in its profit after tax.

PAT for the fourth quarter was Rs 996.2 crore against Rs 87.5 crore in the corresponding quarter last year.

The company's revenue from operations in the quarter under review jumped 15.84 per cent, up to Rs 6,297 crore from Rs 5,436 in Q4 last year.

Dr. Reddy's Laboratories' total operating expenses were 13.26 per cent down in the fourth quarter, from Rs 2,722.4  crore in FY22 Q4 to Rs 2,361.7 crore.

In Wednesday's trade, the share price of Dr. Reddy's Laboratories was down 1.30 per cent, from Rs 4,933.25 to Rs 4,869.00 at the close of the market.