Dr Reddy's Labs Q4 result: PAT up 9 times, div declared at Rs 40 per share

Its revenue from operations stood at Rs 5,843 crore in Q4 FY23, up 15.28% YoY as compared to Rs 5,068.4 crore in Q4FY22

Dr Reddy's Laboratories on Wednesday reported a consolidated net profit of Rs 960.1 crore for the quarter ended March 2023, the compnay said in a stock exchange filing. This is an increase of 890 per cent or almost nine times from Rs 97 crore reported in the same quarter of last year.

Its revenue from operations stood at Rs 5,843 crore in Q4FY23, up 15.28 per cent YoY as compared to Rs 5,068.4 crore in Q4FY22.

Meanwhile, total expenses were down by 4 per cent at Rs 5,132.2 crore against Rs 5,348.4 crore in Q4FY22.

The company recommended a final dividend of Rs 40 (800 per cent) per equity share of Rs 5 each for the financial year 2022-23, according to the filing. The dividend will be paid on or after five days from the date of declaration of the final dividend by the shareholders at the 39th Annual General Meeting (AGM), the company said.

Other income during the quarter increased to Rs 138.5 crore as against Rs 121.9 crore in the previous-year period. The company's total income rose 15.3 per cent YoY to Rs 6,453.7 crore for the March quarter. The same was Rs 5,596.8 crore in the same quarter of last year.

In Wednesday's trade, shares of Dr Reddy's Labs ended 1.3 per cent lower at Rs 4,868 on the BSE. On a year-to-date basis, the stock has surged 15 per cent, while it has risen 25 per cent in the last one year.