 "Dr Reddy's gains 5% as Q1 profit beats forecast")
Shares of Dr Reddys Laboratories have moved higher by 5% to Rs 3,905 on the National Stock Exchange (NSE) after the company reported a 13.8% year-on-year (YoY) growth in consolidated net profit at Rs 626 crore for the quarter ended June 30, 2015 (Q1) against an average analyst estimate of Rs 569 crore.
The drug maker had posted a profit of Rs 550 crore in the same quarter last year.
Consolidated net sales of the company during the quarter under review grew by 6.8% at Rs 3,758 crore against Rs 3,518 crore in the corresponding quarter of previous fiscal.
EBITDA (earnings before interest, tax, depreciation and amortisation) margin improved to 26.5%, against 25.2% in the same quarter last year, Dr Reddy’s Laboratories said in a statement.
“We were able to achieve these results despite limited new launches and headwinds in the form of currency devaluation in key emerging markets. As we continue to further strengthen our product portfolio and drive new launches, we are well positioned for the next phase of our growth,” said GV Prasad, co-chairman and CEO of Dr Reddy’s Laboratories.
At 02:24 PM, the stock was up 5% at Rs 3,901 on the NSE with a combined 1.07 million shares changing hands on the NSE and BSE.
The drug maker had posted a profit of Rs 550 crore in the same quarter last year.
Consolidated net sales of the company during the quarter under review grew by 6.8% at Rs 3,758 crore against Rs 3,518 crore in the corresponding quarter of previous fiscal.
EBITDA (earnings before interest, tax, depreciation and amortisation) margin improved to 26.5%, against 25.2% in the same quarter last year, Dr Reddy’s Laboratories said in a statement.
“We were able to achieve these results despite limited new launches and headwinds in the form of currency devaluation in key emerging markets. As we continue to further strengthen our product portfolio and drive new launches, we are well positioned for the next phase of our growth,” said GV Prasad, co-chairman and CEO of Dr Reddy’s Laboratories.
At 02:24 PM, the stock was up 5% at Rs 3,901 on the NSE with a combined 1.07 million shares changing hands on the NSE and BSE.
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