Dr. Reddy’s Lab Q2 net profit at Rs.2.8bn

 

Dr. Reddy’s Laboratories Ltd announced its consolidated financial results for the second quarter and half year ended September 30, 2017.

Q2 FY18: Key Highlights
Revenues at Rs.35.5 billion [QoQ growth: 7%; YoY decline: 1%]
Gross Profit Margin at 53.3% [Q1 FY18: 51.6%; Q2FY 17: 56.0%]
Research & Development (R&D) spend at Rs.4.2 billion. [11.8% of Revenues]
Selling, general & administrative (SG&A) expenses at Rs.11.0 billion [YoY decrease: 6%]
EBITDA at Rs.6.9 bn [19.4% of Revenues]
Profit after tax at Rs.2.8 bn [8.0% of Revenues] .

CEO and Co-chairman, G.V. Prasad 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% over the previous quarter. Looking ahead, we expect to see results from products launched in the U.S. 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.”

NewsBarons is now active on WhatsApp. To receive news and updates on your handset, please click here and press send to subscribe.

Yash Ved
Yash Ved is a Senior Correspondent at NewsBarons and comes with a decade of experience across leading online and offline publications. A keen observer of the stock index movement, Yash also likes covering Real Estate and the BFSI sector. A financial management and Journalism student, Yash believes learning as a continuous journey and enjoys following the IT and the Pharmaceutical industry and has penned many articles on the subjects.
yash@newsbarons.com