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Dr Reddy’s Q3 Preview | Sharp drop in net profit likely on slump in US revenues

Revlimid sale contribution to US revenue likely to fall as it normalises, making for a muted December Quarter

January 25, 2023 / 10:17 AM IST
On the India business front, the drug maker expects a growth of 5 percent on-year on the back of acquired products

On the India business front, the drug maker expects a growth of 5 percent on-year on the back of acquired products

 
 
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Indian pharma major Dr Reddy’s Laboratories Limited is expected to report weak sequential earnings for the quarter ended December 2022.

The company is likely to report a 18.1 percent on-quarter decline in consolidated net profit at Rs 894.2 crore for the October-December period, according to an average of estimate of brokerages polled by Moneycontrol. DRL is expected to release its earnings report on January 25.

Ahead of earnings, the stock is trading lower at Rs 4185.15 apiece, down by 1.5 percent. On January 24, the stock had closed lower by 1.96 percent.

US revenue is expected to decline and normalise henceforth with majority of Revlimid sales being booked in the second quarter. ICICI Securities projects the company's US revenue declining 20 percent on-quarter to $281 million, which might, however, lead to an improvement in EBITDA margin on a yearly basis.