Dr Reddy’s Laboratories’ Q1 net up 14% at 625 cr

Hyderabad, Aug 05, 2015: Pharma major Dr Reddy’s Laboratories Ltd’s net profit increased 14 per cent at Rs. 625.7 crore in the first quarter ended June 30, 2015 compared to Rs. 550.4 crore in the corresponding quarter of the previous year. The revenue of the Hyderabad based company increased 7 per cent at Rs. 3,759 crore (Rs 3,517 crore). Its scrip gained 5.23 per cent on the Bombay Stock Exchange on Thursday to end at Rs. 3,907.55. The increase in profit and revenue was driven by sustained performance in injectables and key products such as Valganciclovir in the north American market. “In addition, good business mix and focus on cost control also helped,’’ Saumen Chakraborti, President and Chief Financial Officer, Dr Reddy’s told newspersons at a press conference here today. While accepting that revenue growth was on the lower side, he said the decline in sales was due to a 20 per cent dip in the emerging markets. This was due to on-going macro economic uncertainties in Russia and depreciation of rouble, he added. The sales, however, grew by 14 per cent in North America, 43 per cent in Europe and 19 per cent in India.