Dr Reddy's Labs Q2 Results: Pharma firm beats Street estimates with 33% jump in net profit

Dr Reddy's Laboratories (DRL) on Friday reported a consolidated net profit of Rs 1,480 crore for the July-September period, translating into an increase of 33 per cent on a year-on-year basis and exceeding analysts' estimates. 

Its revenue grew 9.1 per cent to Rs 6,880.2 crore for the second quarter of the current financial year, according to a regulatory filing. 

The Hyderabad-based pharmaceutical company reported Rs 2,181.3 crore in earnings before interest, taxes, depreciation and amortisation (EBITDA) for the quarter ended September 30, as against Rs 1,932 crore for the corresponding period a year ago. 

According to Zee Business research, the drug maker was estimated to report a consolidated net profit of Rs 1,254 crore, revenue of Rs 6,759 crore and EBITDA of Rs 1,903 crore.for the quarter under review.

"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," said GV Prasad, Co-Chairman and MD, Dr Reddy's Laboratories. 

DRL shares finished the day weaker by Rs 39, or 0.7 per cent, at Rs 5,385.6 apiece on BSE minutes after the earnings announcement.

(This story will be updated shortly)

Catch latest stock market updates here. For all other news related to business, politics, tech, sports and auto, visit Zeebiz.com.