Pharma major Dr. Reddy's Laboratories on Tuesday posted a 4 per cent year-on-year growth in its consolidated net profit at Rs 1,949.8 crore for the full financial year ended March 31, 2020 (FY20). The drug maker had posted consolidated net profit of Rs 1,879.5 crore in FY19, Dr. Reddy's Laboratories said in an exchange filing.
Consolidated revenue of the Hyderabad-headquartered company grew by 13 per cent to Rs 17,460 crore as compared to Rs 15,385.1 crore in FY19.
Operating profit declined by 23 per cent to Rs 1,599.3 crore from Rs 2,088.8 crore in the previous fiscal.
During the January-March quarter of FY20, Dr. Reddy's Lab reported a 76 per cent growth in consolidated profit after tax to Rs 764.2 crore against Rs 434.4 crore in the corresponding period last year. Revenues for the quarter rose by 10 per cent to Rs 4,431.8 crore against Rs 4,016.6 crore in Q4 of last fiscal.
The revenues from global generics stood at Rs 3,640 crore, registering a YoY growth of 20 per cent. The Pharmaceutical Services and Active Ingredients (PSAI) segment revenues were up six per cent at Rs 719.5 crore against Rs 676.5 crore in Q4 of FY19.
Commenting on the results, Co-Chairman and MD, GV Prasad said, "FY20 has been a very positive year for the company. Progress made during the year includes VAi status for CTO 6, healthy product pipeline build up, productivity improvement, and strong financial performance across our businesses."
On response to COVID-19, the company said that few products related to coronavirus are under development. The company is also playing its part of contributing to the society by extending support through various CSR initiatives such as supporting the health care professionals and others with the PPE kits, masks, sanitisers, gloves besides providing food assistance to the marginal sections and migrant families, it added.
Dr. Reddy's board has also recommended a final dividend of Rs 25 (500%) per equity share of Rs 5 face value for the financial year 2019-20. The dividend will be paid on or after 5 days from the date of declaration of the final dividend by the shareholders at the 36th Annual General Meeting (AGM), it said.
Following earnings numbers, shares of Dr. Reddy's Laboratories were trading 5 per cent higher at Rs 3,885 apiece on the BSE against the previous close price of Rs 3,699.55. The stock hit an intra-day high of Rs 3,888 after opening higher at Rs 3,710.20.