Dr Reddy's Laboratories fell 2.11% to Rs 2,469.40 at 15:13 IST on BSE on profit booking after recent run up in the stock price ahead of Q2 September 2013 results.
The company announced its Q2 result during trading hours today, 31 October 2013. The stock fell on profit booking after hitting a record high of Rs 2,545 earlier today. At the intraday high, the stock rose 6.01% in three sessions from Rs 2,400.75 on Monday, 28 October 2013.
Meanwhile, the BSE Sensex was up 32.19 points, or 0.15%, to 21,066.16.
On BSE, 91,000 shares were traded in the counter compared with average volume of 22,561 shares in the past one quarter.
The stock hit a low of Rs 2,448 so far during the day. The stock hit a 52-week low of Rs 1,711.60 on 16 November 2012.
The stock had underperformed the market over the past one month till 30 October 2013, rising 5.83% compared with the Sensex's 8.54% rise. The scrip had, however, outperformed the market in past one quarter, rising 15.75% as against Sensex's 8.71% rise.
The large-cap company has an equity capital of Rs 85.05 crore. Face value per share is Rs 5.
Dr Reddys Laboratories' consolidated net profit surged 69.41% to Rs 690.25 crore on 17.14% increase in total income to Rs 3421.12 crore in Q2 September 2013 over Q2 September 2012.
Consolidated EBITDA (earnings before interest taxes depreciation and amortization) rose 27% to Rs 950 crore in Q2 September 2013 over Q2 September 2012.
The company said revenues from global generics segment rose 32% to Rs 2650 crore in Q2 September 2013 over Q2 September 2012, driven by growth in North America, Russia and other emerging markets. Revenues from the pharmaceutical services and active ingredients (PSAI) segment fell 19% to Rs 640 crore in Q2 September 2013 over Q2 September 2012.
Selling, general & administrative (SG&A) expenses, including amortization, rose 21% to Rs 970 crore in Q2 September 2013 over Q2 September 2012. The increase was primarily towards select brand building activities in the emerging market territories. SG&A expenses accounted for 29% to revenues in Q2 September 2013 compared with 27.8% to revenues in Q2 September 2012.
Research & Development (R&D) expenses rose 71% to Rs 300 crore, which is 9% to revenues in Q2 September 2013 compared with 6.1% to revenues in Q2 September 2012.
Dr Reddy's Laboratories is an integrated global pharmaceutical company. Through its three businesses - Pharmaceutical Services and Active Ingredients, Global Generics and Proprietary Products - Dr. Reddy's offers a portfolio of products and services including active pharmaceutical ingredients (APIs), custom pharmaceutical services, generics, biosimilars, differentiated formulations and new chemical entities (NCEs).
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