Dr Reddy's posts Q3 profit of Rs 20 crore, revenues at Rs 4,930 crore

Dr Reddy's Laboratories on Friday reported a consolidated net profit of Rs 20 crore for the October to December quarter as against a consolidated net loss of Rs 570 crore in the year-ago period.

Not accounting for impairment cost, the company's net profit in the quarter would have been at Rs 882 crore, it said.

The company's consolidated revenues grew 12 per cent year-on-year to Rs 4,930 crore.

There were significant changes to the market conditions for certain of the products fanning part of company's global generics and proprietary products segments, said the company.

"We continued with our growth momentum while maintaining EBITDA margins. We are progressing well on phase three clinical trials for Sputnik V vaccine in India," said Co-Chairman and Managing Director G V Prasad.

The company's revenues in India increased by 26 per cent year-on-year to Rs 959 crore in Q3 FY21. In North America, the sales rose 9 per cent to Rs 1,739 crore.