Dr Reddy's Q4 PAT jumps 36% YoY to Rs 1,307 crore

Drug major Dr Reddy’s Laboratory on Tuesday, post-market hours announced its earnings for the quarter ended March 2024. The company reported a consolidated net profit surged 36.26% on year to 1,307 crore rupees. Further, revenue rose 12.49% to 7,083 crore rupees in Q4 FY24 compared to Q4 FY23.

The reported growth in revenue was largely attributed to growth in global generics revenues in North America and emerging markets as well. Revenue from the Indian market declined 12% in the quarter to 1,126.5 crore rupees. The company during the quarter launched 3 new brands in the country. 

However, revenue from the North American market rose 29% on year to 3,626 crore rupees. The growth is largely attributed to the increase in volume of the company’s base business, contribution from new launches, partly offset by price erosion.

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Further, earnings before interest, taxes, depreciation, and amortization (EBITDA) rose 14.77% to 1,872 crore rupees in Q4 FY24 against 1,631.1 crore rupees reported in the corresponding quarter previous year. 

"Our growth and profitability in FY24 has been driven by our performance in the US. We have also made significant progress on future growth drivers through licensing, collaboration and pipeline building. We will continue to strengthen our core businesses through superior execution as we invest and build the future growth drivers," commented Co-Chairman and MD, GV Prasad.