Dr Reddy's Laboratories Achieves Growth in Q3

Dr Reddy's Laboratories announced a 2% increase in consolidated net profit, reaching Rs 1,413 crore for the third quarter ending December 31, 2024. This growth is attributed to strong performance across various markets. The Hyderabad-based pharmaceutical giant had previously reported a profit of Rs 1,379 crore in the same period last fiscal year.

Revenue saw a significant rise to Rs 8,359 crore from Rs 7,215 crore a year ago. G V Prasad, Co-Chairman & MD of the company, highlighted the double-digit growth driven by the newly acquired NRT business, new product launches, and improved operational efficiencies. Prasad emphasized the company's commitment to healthcare advancement through access, affordability, and innovation.

Market Performance Highlights

The US market contributed to the growth with a 1% year-on-year increase in revenues, amounting to Rs 3,383 crore in the third quarter. In India, sales surged by 14% to Rs 1,346 crore from Rs 1,180 crore in the previous fiscal year. European sales also saw a remarkable increase, reaching Rs 1,210 crore compared to Rs 497 crore in the last fiscal year's December quarter. Emerging markets experienced a 12% growth, with sales climbing to Rs 1,436 crore.

Despite the positive financial results, Dr Reddy's shares experienced a slight decline, ending 0.54% down at Rs 1,289.35 apiece on BSE.