Dr Reddy’s Laboratories shares slips over 11 percent

The company reportedly put forward a consolidated profit of around Rs 570.8 crore for the quarter that concluded in June 2021.

Dr. Reddy’s Laboratories share price declined over 11 percent intraday on a BSE filing as the company disclosed its June Quarter numbers.

The company reportedly put forward a consolidated profit of around Rs 570.8 crore for the quarter that concluded in June 2021. It reported a 1.5 percent drop when compared with the past year period. Around Rs. 579.3 crore profit was made in June 2020 quarter.

The company’s revenue from its operations increased by 11.4 percent year-on-year to Rs 4,909.4 crore in Q1FY22.

Its Earning before interest, tax, depreciation, and amortization stood to be 12.3 percent down at Rs 1,019 crore against Rs 1,162.2 crore, the margin was down at 20.7 percent against 26.3 percent, YoY.

Dr. Reddy’s Laboratories gross profit surged by nearly 3.8 percent year-on-year to Rs 2,569.9 crore in the quarter that concluded in June 2021.

Its pharmaceuticals services and active ingredients segment stated a 12 percent year-on-year drop at Rs 754 crore during the quarter that ended in June 2021.

At 1430 hours, the shares of the company traded around 11.09 percent lower at Rs 4,809.25.

Co-Chairman and managing director GV Prasad commented, “The financial performance of the quarter has been driven by healthy sales growth. I am confident about improving our margins in the upcoming quarters, which will be led by the scale-up of recent launches, new product launches, and productivity.”

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