Dr. Reddy’s Laboratories reported consolidated net profit for the fourth quarter ended March jumped almost tenfold to ₹960.1 crore on the back of a better show in its mainstay global generics business and impairment charges being a fraction of the ₹741.9 crore recorded in the year-earlier period.
Revenue from operations increased more than 15% to ₹6,315.2 crore, according to results prepared as per Indian Accounting Standards. Impairment charges totalled ₹54 crore.
The company has recommended a final dividend of ₹40 per equity share (of ₹5 each) for 2022-23.
For FY23, the pharma major’s reported consolidated net profit rose twofold to ₹4,507.3 crore on a more than 14% increase in total revenue from operations to ₹24,669.7 crore.
“FY 23 has been a year of record sales, profits and cash flow, driven by our performance in US generics. We progressed well in our productivity and sustainability agenda. We will continue to deliver on our purpose, invest in growth drivers…,” co-chairman and MD G.V.Prasad said in a release.
In the global generics segment, the year on year revenue growth in North America, Europe and India was impacted partially due to a decline in the Emerging Markets. Revenue from global generics increased to ₹5,429.7 crore (₹4,635.9 crore) for the March quarter. For the full fiscal, Emerging Markets remained flat, while North America, Europe and India helped grow the revenue.
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