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Dr. Reddy's Q2FY24 Financial Performance Review

Oct 27, 2023

By: BlinkX Research Team

In this financial performance review, we delve into the results of Dr. Reddy's for the second quarter of fiscal year 2024 and analyze key metrics, including revenue, expenses, net profit, and margin.

REVENUE: 
Dr. Reddy's reported a total income of ₹6,880.20 crores for Q2FY24, reflecting a stable 2.1% increase compared to the preceding quarter, Q1FY24. On a year-on-year basis, the company showcased a healthy 9.11% growth in total income compared to the same quarter in the previous fiscal year, Q2FY23.

OPERATING PROFIT: 
The operating profit for Dr. Reddy's in Q2FY24 was ₹1,786.70 crores, marking a 1.31% increase compared to the preceding quarter, Q1FY24. Year-on-year, the company demonstrated a solid 10.79% growth in operating profit, showcasing efficiency in its operations.

NET PROFIT: 
The net profit of Dr. Reddy's for Q2FY24 stood at ₹1,480 crores, displaying a 5.53% increase compared to the preceding quarter, Q1FY24. On a year-on-year basis, the company exhibited significant growth with a remarkable 33% increase in net profit, indicating strong financial performance.

MARGINS: 
Dr. Reddy's margin in Q2FY24 was 21.51%, a 0.70% increase compared to the preceding quarter, Q1FY24. Year-on-year, the company significantly improved its margin, with a growth of 3.86%, underlining its focus on profitability and operational excellence.

In conclusion, Dr. Reddy's financial performance in Q2FY24 reflects robust growth and an increase in profitability. The company's ability to expand revenue, improve margins, and efficiently manage operating profit is commendable. 

Stay tuned for more detailed updates on Dr. Reddy's financial performance in the coming quarters.