Dr Reddy's FY07 consol net at Rs 966cr

Dr Reddy's Laboratories has posted a consolidated net profit of Rs 965.89 crore for the year ended March 31, 2007 whereas it was Rs 146.73 crore for the year ended March 31, 2006.

According to an official release issued by the company to the BSE today, total income for FY07 is Rs 6641.76 crore whereas it was Rs 2483.21 crore for FY06.

For the quarter ended March 31, 2007, the company has posted a net profit of Rs 268.90 crore when compared with a net loss Rs 14 crore for the quarter ended March 31, 2006. Total income has increased to Rs 1151.06 crore from Rs 524.98 crore for Q4FY06, the release said.

On March 03, 2006, the company through its step down subsidiary Reddy Holding GmbH acquired 100% of the outstanding common shares of Betapharm Group for a consideration of Rs 2606.33 crore. The transaction has been accounted for under the purchase method of accounting and the resultant goodwill of Rs 1939.81 crore has been recorded in the books.

On December 30, 2005, the company acquired 100% of the share capital of Industrias Quimicas Falcon de Mexico for a cash consideration of Rs 232.02 crore. Additionally, it has paid Rs 24.34 crore for acquisition of customer relationships which have been accounted as intangible assets.

The consolidated results of the current year include the results of the acquisitions described above and are therefore not comparable with the previous period.