Dr Reddy's Lab Reports 33% YoY Surge In Q2 Profit, Revenue Soars 9%

Renowned pharmaceuticals major Dr Reddy's Laboratories today declared a surge of 33% year-on-year (YoY) in its consolidated net profit to Rs 1480 crore for the quarter ended September 30, 2023. Revenue from operations too soared by 9% YoY to Rs 6880 crore as against Rs 6305.7 crore in the corresponding period in preceding fiscal.

Dr Reddy's consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) for the quarter under consideration declared at Rs 2,181 crore while the operating margin arrived at 31.7%.

Current market price of Dr Reddy's Laboratories share on BSE is Rs 5423.00 per share with marginal intraday fall of 0.03%. The stock's 52-week high price is Rs 5986.20 apiece and 52-week low price is Rs 4176.85 apiece, respectively.

The large cap pharma company has a market capitalisation of Rs 89,818.40 crore. Dr Reddy's Laboratories shares witnessed a fall of 3.34% in last 1-week when BSE Sensex fell 2.47% and S&P BSE Healthcare declined 2.58%. Dr Reddy's Laboratories stock offered shareholders a return of 27% YTD, gained 20% in last 1-year, jumped 16% in last 2-years, and gained 124% in last 5-years.

Dr. Reddy's Laboratories commenced its generics business in India in 1986 and is today a trusted name in the healthcare industry consistently serving the needs of millions of patients with high quality, affordable and innovative medicines across therapy areas. Over the years, the company has significantly grown its portfolio of products across mass and specialty therapies, according to its official website.