Dr Reddy's Laboratories' Q2 net profit soars 77% to Rs 504 cr; revenue up 7% to Rs 3,798 cr

Commenting on the results, Dr Reddy's Lab's co-chairman and CEO, G V Prasad said, "I am encouraged by our performance and progress in the second quarter. Our continuous focus on execution, operational efficiency and cost optimization are showing results.

|Oct 26, 2018, 17:24:07 IST

Hyderabad: Dr Reddys Laboratories Limited on Friday said its profit after tax for the quarter ended 30 September was up by 77 percent to Rs 504 crore against Rs 387.6 crore in the second quarter of FY18. According to a press release issued by the drug maker, revenues for the quarter under discussion was up by seven percent to Rs 3,798 crore. It was Rs 3,546 crore in the same quarter last fiscal. [caption id="attachment_4191743" align="alignleft" width="380"]

Representational pic. GettyImages[/caption]On the results, Co-chairman and CEO, G V Prasad said, "I am encouraged by our performance and progress in the second quarter. Our continuous focus on execution, operational efficiency and cost optimization are showing results. Looking ahead, our priority will be to resolve pending regulatory issues, and continue to work on execution and cost structures that will enable affordable medicines for more patients." Revenues from Global Generics segment in the Q2 was reported at Rs 3,050 crore a year-on-year growth of 7 percent over the same quarter last year, primarily driven by contributions from Emerging Markets, India and favorable forex. Revenues from Pharmaceutical Services and Active Ingredients was at Rs 600 crore in the second quarter with seven percent growth over the Q2 of FY18.

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Dr Reddy's Laboratories' Q2 net profit soars 77% to Rs 504 cr; revenue up 7% to Rs 3,798 cr

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South Korea economy grows faster than expected in Q2 as chip exports power recovery

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