Dr Reddy’s Labs’ quarterly net up 8% to Rs519 crore

Pharma major Dr Reddy’s Laboratories on Tuesday said its consolidated profit after tax (PAT) rose 8 per cent to Rs 519 crore for the quarter ended March 31. The company’s net profit for the fourth quarter a year ago stood at Rs 482 crore. The company for the first time has touched USD 1 billion revenues from generic sales from the US, Saumen Chakraborty, President, CFO and Global Head of HR, said at a press conference here. He said revenues for the quarter under discussion stood at Rs 3,870 crore, up 11 per cent over the same quarter a year earlier.

Revenues for the January-March <g data-gr-id="20">quarter</g> last year recorded at Rs 3,481 crore. G V Prasad, Co-chairman and CEO, said the company expects <g data-gr-id="15">double digit</g> growth in the current fiscal depending on the regulatory approvals for some of the new products for launching. “We are targeting double digit growth. A lot depends on the regulatory approvals in the USA. They have been little slow in the last 12 months or so. There <g data-gr-id="17">are</g> <g data-gr-id="19">couple</g> of quarters which are beyond our control like exchange fluctuation and approvals. If they work in our favour then we see double digit growth,” Prasad told reporters when asked about the expectations for the current year.