 "Dr Reddy's Q4 PAT falls 76% YoY on impairment costs; misses estimates")
Dr Reddy's Laboratories, on Thursday, posted a 76 per cent year-on-year (YoY) decline in consolidated net profit at Rs 88 crores for the fourth quarter of financial year (Q4FY22), missing analyst estimates. This was due to impairment charges of Rs 751.5 crores during the quarter.
The company's revenue came at Rs 5,437 crores, up 15 per cent from last year, on strong growth across all markets.
The company's revenue came at Rs 5,437 crores, up 15 per cent from last year, on strong growth across all markets.
The company's board also recommended a final dividend of Rs 30 per equity share of face value of Rs. 5 each for the financial year 2021-22.
Co-Chairman and MD G.V.Prasad said that inspite of multiple challenges, the company's core business performed well, driven by market share gains, some strong launches and productivity improvement.
Dr. Reddy’s said the North America business grew 14 per cent YoY, Europe rose 12 per cent, and India 15 per cent. Largest increase was registered in emerging markets at 36 per cent from last year.
The stock gained around 2 per cent outperforming the benchmarks, before it erased gains partially.
The stock gained around 2 per cent outperforming the benchmarks, before it erased gains partially.
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