Dr Reddy’s Q3 net profit rises

Dr Reddy’s Q3 net profit rises

Dr Reddy’s Laboratories posted a consolidated net profit of Rs 27.9 crore for the third quarter ended December 31, 2020. The company had posted a net loss of Rs 538.4 crore during the same period of the previous fiscal.
Total revenue from operations stood at Rs 4,941.9 crore for the quarter under review, up 12.38%. During the third quarter ended December 31, 2019, the total revenue from operations was at Rs 4,397.1 crore.
EBITDA came at Rs 1,185 crore and EBITDA margin stood 24% for Q3FY21.

The gross margin stood at 53.8% against 54.1% YoY and 53.9% QoQ.
SGNA expenses rose 14% YoY and 10% QoQ to Rs 1,439 crore. R&D expenses stood at Rs 411 crore for the quarter.
The drug maker continued to gain growth momentum in revenue while maintaining EBITDA (earnings before interest, taxes, depreciation and amortisation) margins.
However, its profit growth was impacted due to trigger-based impairment charge taken on a few acquired products.
It is progressing well on phase 3 clinical trials for Sputnik V vaccine in India.

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