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Dr Reddy's Labs Q3 profit at Rs 20 crore, revenue rises 12% YoY

The company said the Q3FY21 PAT was impacted primarily due to the non-recognition of deferred tax assets on impairment.

January 29, 2021 / 12:08 PM IST
 
 
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Dr. Reddy's Laboratories on January 29 posted December quarter consolidated net profit at Rs 20 crore against a loss of Rs 569.7 crore in the year-ago period.

The company said the Q3FY21 PAT was impacted primarily due to the non-recognition of deferred tax assets on impairment.

Revenue for the said quarter came at Rs 4,930 crore which was up 12 percent YoY and 1 percent QoQ.

The gross margin stood at 53.8 percent against 54.1 percent YoY and 53.9 percent QoQ.

SGNA expenses rose 14 percent YoY and 10 percent QoQ to Rs 1,439 crore. R&D expenses stood at Rs 411 crore for the quarter.

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EBITDA came at Rs 1,185 crore and EBITDA margin stood 24 percent for Q3FY21.

"We continued with our growth momentum while maintaining EBITDA margins. The profits were impacted due to trigger based impairment charge taken on a few acquired products including gNuvaring," said the company's Co-chairman & MD, G V Prasad.

"We are progressing well on phase 3 clinical trials for Sputnik V vaccine in India. We continue to focus on enhancing our product offerings to our patients to serve them better."

Among the geographical segments, Europe and India led, rising 34 percent and 26 percent YoY, respectively.

North America witnessed a growth of 9 percent YoY while emerging markets grew 5 percent YoY during the December quarter.

Proprietary products & others segment grew 53 percent YoY but pharmaceutical services and active ingredients (PSAI) segment grew by just 1 percent YoY.

Revenue from global generics saw YoY growth of 13 percent and sequential growth of 2 percent, primarily driven by new product launches and integration of the acquired portfolio from Wockhardt in India.
Moneycontrol News
first published: Jan 29, 2021 12:08 pm

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