Dr Reddy’s Q1 PAT falls 13% to Rs 579 cr, revenue up by 15% to Rs 4,417 cr

Dr Reddys Laboratories Limited’s consolidated profit after tax for the quarter ended June 30 was down by 13 per cent to Rs 579.3 crore against Rs 662.8 crore during the same quarter in FY20, the company said in filing with stock exchanges on Wednesday.

Revenues for the quarter under discussion was up by 15per cent to Rs 4,417.5 crore against Rs 3,843.5 crore in Q1 of last fiscal, it said.

Commenting on the results, Co-chairman and MD, G V Prasad said “the current quarter’s financial performance has been strong across all parameters.

I am glad that we have been able to serve our patients well and ensured continuity of business operations despite the challenging times.”

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According to him the city-based drug maker started integration of the acquired business from Wockhardt and executed two important licensing arrangements for treatment options for Covid-19 and currently, the company is working towards bringing both these drugs to multiple markets.

The revenues from global generics stood at Rs 3,507 crore, a YoY growth of six per cent driven primarily by Europe and Emerging Market.

The Pharmaceutical Services and Active Ingredients (PSAI) segment revenues were up 88 per cent to Rs 855.3 crore against Rs 454 crore in Q1 of FY20.