DRL posts revenue of Rs 35.5 bn in second quarter

In H1 FY18, the company posted a revenues of Rs 68.6 billion

Dr Reddy’s Laboratories (DRL) announced its consolidated financial results for the second quarter and half year ended September 30, 2017 under International Financial Reporting Standards (IFRS).

In Q2 FY18, the company posted a revenue of Rs 35.5 billion, gross profit margin at 53.3 per cent, R&D spend at Rs 4.2 billion, selling, general and administrative (SG&A) expenses at Rs 11 billion, showing a YoY decrease of 6 per cent, EBITDA at Rs 6.9 billion and profit after tax at Rs 2.8 billion.

In H1 FY18, the company posted a revenues of Rs 68.6 billion, gross profit margin at 52.5 per cent, R&D spend at Rs 9.3 billion, SG&A expenses at Rs 22.8 billion, EBITDA at Rs 10.2 billion and profit after tax at Rs 3.4 billion.

Commenting on the results, GV Prasad, CEO and Co-chairman, DRL, said, “Healthy performances in India, emerging markets, Europe and PSAI businesses, as well as continued focus on cost control, have contributed to sequential growth in our topline as well as bottom line, with an EBITDA increase of 105 per cent over the previous quarter. Looking ahead, we expect to see results from products launched in the US during the first half of this fiscal. We will continue to focus on the launching of new products, as well as on improving operational efficiencies and quality management systems across the company.”