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

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

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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.”