Dr Reddy's Q3 net up 88% y-o-y

Stocks

oi-Sneha

By Sneha B K

Published: Saturday, February 4, 2012, 9:43 [IST]

Dr Reddy's Laboratories Ltd, pharma based company reported net profit of 88% to Rs 512 crore in the third quarter against Rs 273 crore corresponding quarter of the previous year.

Dr Reddy's said net profit and sales were highest ever quarterly sales. The pharma company's net sales for this quarter were up 46% from a year ago to Rs 2,769.19 crore.

The total income of the company rose by 46% to Rs 2,769 crore against Rs1,898 crore. The comapany's revenue were up due to higher sales.

The earnings per share were at Rs 30.26 against Rs 16.14. Operating profit margins during the quarter was at 27.3%, up from 15.5% a previous year.

Gross profit margin 60% to revenues in Q3 FY12, increased largely on account of a favorable mix of high margin olanzapine revenues and benefit of rupee depreciation, company said in the statement.

Selling, General & Administration (SG&A) expenses including amortization increased by 20% over Q3 FY11. This increase is on account of higher manpower and freight costs and the effect of rupee depreciation against multiple currencies, it further added.

The company said in the statement that it has 33 new generic launches, 16 new generic filings and 7 DMF filings. In India it has launched 6 new generic drugs in the quarter.

On Friday, the shares of the company closed at Rs 1,670.50 up by 35.25 points or 2.16%.

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