Dr Reddy's Q4 Results: Net profit grows by one-third but misses analyst estimates; drug maker declares dividend

Dr Reddy's Q4 Results: Hyderabad-headquartered pharmaceutical company Dr Reddy's Laboratories (DRREDDY) on Tuesday reported a consolidated net profit of Rs 1,307 crore for the quarter ended March 31, marking a year-on-year jump of 36.3 per cent compared with the corresponding period a year ago. 

The drug maker registered revenue of Rs 7,083 crore for the January-March period, up 12.5 per cent on a year-on-year basis, according to a regulatory filing. 

According to Zee Business research, Dr Reddy's Labs' March-quarter net profit was estimated at Rs 1,378 crore and revenue at Rs 7,359 crore.

Revenue from the company's pharmaceutical services and active ingredients unit grew 12.3 per cent to Rs 1,152.6 crore and that from its global generics segment increased 12.8 per cent to Rs 6,119.1 crore, according to the filing. 

The company's fourth-quarter earnings before interest, taxes, depreciation and amortisation (EBITDA) came in at Rs 1,872 crore, which contributed 26.4 per cent to its revenue, it said. 

Zee Business analysts had pegged the pharma firm's quarterly EBITDA at Rs 2,056 crore.

Dr Reddy's said its India revenue declined 12 per cent on a year-on-year basis to Rs 1,130 crore.

"Our growth and profitability in FY24 has been driven by our performance in the US. We have also made significant progress on future growth drivers through licensing, collaboration and pipeline building," said GV Prasad, Co-Chairman, Dr Reddy's Labs.

Dr Reddy's said its revenue for the full financial year grew 14 per cent over the previous year to Rs 27,916.4 crore.  

"We will continue to strengthen our core businesses through superior execution as we invest and build the future growth drivers," Prasad added.

Dr Reddy's Dividend News

The drug maker announced a final dividend of Rs 40 for the financial year 2023-24. Read more on Dr Reddy's dividend

Dr Reddy's Shares

Earlier on Tuesday, Dr Reddy's shares ended 0.4 per cent lower at Rs 6,277.1 apiece on BSE in an overall weak market.

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