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Business Economy


Hyderabad, May 17 (UNI) Pharma major Dr Reddy Laboratories Ltd’s net profit growth during 2018-19 surged by 92 per cent over the previous year, at Rs 1879.50 crore against Rs 980.60 crore during FY18.

For the full year, the revenues stood at 15,385.10 crore, up 8 per cent over FY18, the Hyderabad-headquartered pharmaceutical company said while announcing its consolidated financial results for the further quarter and for the financial year 2018-19 here on Friday under International Financial Reporting Standards (IFRS).

The net profit during the quarter ended March 31, 2019 up by 44 per cent at Rs 434.4 crore against Rs 302.2 crore registered in corresponding quarter in previous year despite the sales declined compared to the corresponding quarter in previous year.

While the revenues for the quarter was up by 14 per cent at Rs 4,016.60 crore against Rs 3,534.90 crore in the same quarter in previous year.

Research and Development this year was lower compared to previous and also reduction in Capital Expenditure, the company said

Though the overall industry growing by 7.7 per cent, Dr reddy’s growth was 11 per cent, the company claimed and said the company would launch more products next year against 24 products launched this year (2018-19).

Growth on account of higher contribution from emerging markets and India, primarily due to volume gains, new launches and scale up of new markets, the company added.


Commenting on the results, Dr Reddy’s CEO and Co-Chairman G V Prasad said, "it has been good year with a significant turnaround in the financial performance and steady progress on the quality front. Looking ahead, we will focus on profitable growth, continue the emphasis on operational excellence and drive innovation to deliver value to patients and healthcare systems worldwide."

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