Dr Reddy's Laboratories Limited reported a 76 per cent declne in its net profit at Rs 88 cr for the quarter ended 31 December. The Profit After Tax (PAT) reported by the company in the corresponding quarter in the year-ago period stood at Rs 362.4 cr. On the Quarter-on-Quarter (QoQ) basis, the decline was even sharper at 88 per cent. 

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The results were declared during market hours and Dr Reddy's shares at Rs 3918 and were up by 0.3 per cent from the Wednesday closing price. However, the profits were up 37 per cent YoY for the financial year and was reported at Rs 2,357 cr, the company informed in a filing to the exchanges.

Revenues for the reporting quarter stood ay Rs Rs 5437 cr and were up 15 per cent YoY and 2 per cent sequentially. Revenues for FY22 stood at Rs 21439 cr. 

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The company has alos announced  dividend of Rs 30 per share for FY 2021-22.     

Highlights: 

We delivered healthy growth in revenue, though the profits were impacted by impairment charges. In spite of multiple external challenges, our core business performed well driven by an increase in market share, some strong launches and productivity improvement. We will continue to focus on our core business, invest in future growth drivers and work towards greater integration in Sustainability in our businesses,"  Co-chairman and Managing Director GV Prasad said in a statement.