Dr Reddy’s posts consolidated revenues at Rs 35.2 billion for quarter ended June 30, 2014

Dr Reddy’s Laboratories has posted its unaudited consolidated financial results for the quarter ended June 30, 2014 under International Financial Reporting Standards (IFRS). Consolidated revenues is at Rs 35.2 billion, showing a year-on-year growth of 24 per cent. Revenues from the Global Generics (GG) segment at Rs 29 billion, year-on-year growth of 32 per cent.

Revenues from the Pharmaceutical Services and Active Ingredients (PSAI) segment is at Rs 5.5 billion, year-on-year decline of six per cent. Gross profit margin is at 59.3 per cent versus 52.8 per cent as in Q1 FY 14. Research & Development (R&D) expenses is at Rs 3.9 billion, year-on-year increase of 59 per cent. Expenses are at 11 per cent of revenues versus 8.5 per cent of revenues as in Q1 FY14.

Selling, general and administrative (SG&A) expenses is at Rs 10.7 billion, showing a year-on-year increase of 21 per cent. Expenses are at 30.4 per cent of revenues versus 30.9 per cent of revenues as in Q1 FY14. EBITDA has been posted at Rs 8.9 billion, 25 per cent of revenues; year-on-year showing a growth of 56 per cent.

The company has posted profit after tax at Rs 5.5 billion, 16 per cent of revenues; year-on-year growth of 52 per cent. During the quarter the company launched 25 new generic products, filed 27 new product applications and 20 DMFs globally.

EP News Bureau– Mumbai