Dr Reddy's Laboratories share price will remain in focus on January 27 after company announced its December quarter results on Wednesday.
Pharma major Dr Reddy's Laboratories on January 25 reported a 77 percent growth in consolidated net profit at Rs 1,247 crore for the quarter ended December 31, 2022 as against Rs 707 crore a year ago. On a sequential basis, the profit grew 12 percent.
The Hyderabad-based drug maker also reported a 27 percent increase in consolidated revenue at Rs 6,770 crore as against Rs 5,320 crore in the year-ago period, while it was up 7 percent sequentially.
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Here is what brokerages have to say about stock and the company post December quarter earnings:
Research house has kept ‘Outperform’ rating on the stock with a target at Rs 4,915 per share as Q3 revenue/EBITDA/PAT beat estimates by 9 percent/37 percent/35 percent, respectively.
Macquarie raises FY23 earnings estimates by 8 percent, while largely maintain FY24E/25 earnings estimates.
Capital deployment priorities are clear, but have yet to see any firm action, reported CNBC-TV18.
Broking house has kept ‘Overweight’ rating with target at Rs 5,099 per share.
The strong Q3 driven largely by Revlimid and should continue for next several quarters.
The core business is stable, while M&A is a focus area given strong balancesheet, reported CNBC-TV18.
Maintain 'Accumulate' rating on the stock with a revised target price of Rs 4,745
Believe that the company has reported USD 120-130mn Revlimid revenue (with ~75% margin), almost double than the estimate
Excluding Revlimid, do not expect the company to achieve 25% guided EBITDA margin on an annualized basis, at least in the near to medium term
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