Dr. Reddy's Q2 net up 32%

Income from sales and services rose 27% to Rs 2,881 crore

Hyderabad-based Dr Reddy's Laboratories Limited has reported a 32 per cent jump in net profit at Rs 407.4 crore for the quarter ended September, 2012 from Rs 307.8 crore in the corresponding quarter last year. However, gross profit margin at 53.1 per cent in the second quarter saw a 0.7 per cent decline over that of the corresponding previous quarter.

The revenues grew by 27 per cent to Rs 2,880.9 crore from Rs 2,2678 crore in the year ago period on the back of 47 per cent revenue growth from North America (Rs 930 crore) while the revenues from global generics grew by 25 per cent growth at Rs 2,000 crore.

 

Revenue growth in generics business from other key markets such as Russia and CIS (Rs 380 crore), India (Rs 390 crore)  grew by 14 per cent 12 per cent respectively while the revenues from Europe (Rs 180 crore) declined by 16 per cent.

The company said the growth is largely driven by key limited competition products of ziprasidone, tacrolimus, fondaparinox, clopdogrel, ramp-up in antibiotics portfolio and produces from Shreveport facility.

Revenues from Pharmaceutical services (PSAI) segment , which accounted for 26 per cent of the total revenues in the quarter under review have grown by 33 per cent at Rs 787.6 crore as compared to Rs 593.3 crore in the year ago period.

The loans and borrowing, both current and non-current, in the company balance sheet have come down to Rs 3,490.1 crore by  September 2012 from Rs 3,543 crore as on June 30,2012, according to a company press release.