Dr Reddy's Labs Q4 results: Profit surges 11 folds to Rs 959 crore; Rs 40 dividend announced

Dr Reddy's Laboratories Ltd on Wednesday reported 11-fold surge in consolidated net profit at Rs 959.20 crore for the March quarter compared with Rs 87.50 crore in the same quarter last year. Revenue for the quarter rose 16 per cent to Rs 6,296.80 crore compared with Rs 5,436.80 crore in the corresponding quarter last year. Ebitda for the quarter came in at Rs 1,631 crore, up 26 per cent YoY. 

Co-Chairman & MD, G V Prasad said: "FY 23 has been a year of record sales, profits and cash flow, driven by our performance in US Generics. We progressed well in our productivity and sustainability agenda. We will continue to deliver on our purpose, invest in growth drivers and promote a culture that is innovative and collaborative ensuring the future of our business."

The global generic business reported revenue of Rs 5,430 crore, up 18 per cent YoY, thanks to growth in North America, Europe and India markets. That said, it was partly impacted due to a decline in revenues from emerging markets.

Pharmaceutical services and active ingredients reported revenue of Rs 780 crore, up 3 per cent YoY. The growth was driven by new product launches and favourable forex rates movement, the company said in a BSE filing.

The company said it filed a total of seven DMFs in the US in the March quarter and a total of 12 in FY23. 

The company board recommended a dividend of Rs 40 per share for FY23.