Dr Reddy's Q1 PAT Rises 18% To Rs 1,405 Crore

Dr Reddy's Laboratories on Wednesday reported an 18 per cent increase in consolidated profit after tax at Rs 1,405 crore in the June quarter, fuelled by US generics and strong performance in Russia. 
     
The company had posted a consolidated profit after tax of Rs 1,189 crore in the same quarter a year ago, Dr Reddy's Laboratories Ltd said in a regulatory filing. 
     
The consolidated total revenue from operations was at Rs 6,757.9 crore, compared to Rs 5,232.9 crore in the year-ago period. 
     
Total expenses in the first quarter of the current fiscal (Q1) were higher at Rs 5,086.2 crore compared to Rs 4,628.2 crore in the same period a year ago. 
     
"We delivered strong sales growth and witnessed robust margin expansion in Q1, driven by market share gains and new product momentum in our US generics business and superior performance in Russia," Dr Reddy's Laboratories Co-Chairman & Managing Director G V Prasad said. 
     
The company said its global generics posted a revenue of Rs 6,010 crore in Q1, up 36 per cent from the year-ago quarter, driven by North America, emerging markets and Europe. 
     
North America revenue was at Rs 3,200 crore, a growth of 79 per cent, while that of Europe was at Rs 510 crore, the company said. 
     
On the other hand, India revenue was down 14 per cent at Rs 1,150 crore. 
     
The company said revenue from emerging markets was at Rs 1,160 crore, up 28 per cent from the year-ago quarter and the same from Russia for the quarter was at Rs 560 crore, up 75 per cent.