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Dr Reddy's Net Profit Declines 76% To Rs 88 Cr In Q4

Revenues during the quarter under discussion were up by 15 per cent to Rs 5,436.8 crore compared to Rs 4,728.4 crore in the last quarter of FY21

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Dr Reddy's Laboratories Ltd on Thursday said its consolidated profit after tax for the quarter ended March 31 was down by 76 per cent to Rs 87.5 crore against Rs 362.4 crore in the same quarter a year ago.

Revenues during the quarter under discussion were up by 15 per cent to Rs 5,436.8 crore compared to Rs 4,728.4 crore in the last quarter of FY21.

Commenting on the results, GV Prasad, co-chairman and managing director, Dr Reddy's, said though there was a healthy growth in revenues profits were impacted by impairment charges.

The drug major accounted Rs 751.5 crore towards impairment charges of non-current assets during the fourth quarter.

''In spite of multiple external challenges, our core business performed well driven by an increase in market share, some launches and productivity improvement. We will continue to focus on growing our core businesses, invest in future growth drivers and work towards greater integration of sustainability in our businesses,'' Prasad further said.

For the full financial year, the company clocked Rs 2,356.8 crore profit after tax on Rs 21,439 crore revenues.

Dr Reddy's shares are trading at Rs 3,936 apiece up 0.71 per cent on BSE at 13.15 hrs. 


(PTI)


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