In FY 2018, the company posts Rs 981 crore PAT
Dr Reddy’s Laboratories (DRL) announced its consolidated financial results for the fourth quarter and full year ended March 31, 2018 under International Financial Reporting Standards (IFRS). In fourth quarter (Q4), the company posted a revenue of Rs 3535 crore, profit before tax of Rs 375 crore and profit after tax of Rs 302 crore.
In FY 2018, DRL posted a revenue of Rs 14,203 crore, profit before tax of Rs 1434 crore and profit after tax of Rs 981 crore.
Commenting on the results, GV Prasad, CEO and Co-chairman, said, “We concluded a challenging year for DRL with a relatively muted fourth quarter’s performance. This was mainly on account of continuing headwinds in the US markets and a temporary drop in sales in Russia, attributable to a shift in the channel purchasing pattern. Looking ahead, we will continue to work diligently on resolving pending regulatory issues. We will also focus on accelerating new products to market and improving our approval process.”