Dr. Reddy's Laboratories Ltd. Results

H1FY25 & Q2FY25 Result Announced for Dr. Reddy's Laboratories Ltd.

Pharmaceuticals company Dr. Reddy's Laboratories announced H1FY25 & Q2FY25 results Q2FY25 Financial Highlights: Revenues: Rs 80,162 million, change 17% YoY & 4% QoQ. Gross Margin: 59.6%, Q2FY24: 58.7% & Q1FY25: 60.4%. EBITDA: Rs 22,803 million, 28.4% of Revenues. Profit before Tax: Rs 19,167 million, change 2% QoQ. Profit after Tax: Rs 12,553 million, change -15% YoY & 10% QoQ. H1FY25 Financial Highlights: Revenues: Rs 156,889 million, change 15% YoY. Gross Margin: 60.0%, H1FY24: 58.7%. EBITDA: Rs 44,402 million, 2s.3% of Revenues. Profit before Tax: Rs 37,988 million, change 1% YoY. Profit after Tax: Rs 26,473 million, change -8% YoY. Business Highlights: Completed acquisition of the Nicotine Replacement Therapy ('NRT') portfolio outside of the United States and paid upfront cash consideration of GBP 458 million. Operationalized, Dr. Reddy's and Nestle Health Science, in August 2024 to undertake the business of nutraceutical products and supplements in India and Nepal. 49% of the shares in the subsidiary were transferred to Nestle India. Secured Marketing Authorization from the European Commission for our rituximab biosimilar, following a positive opinion from the C_HMP of the European Medicines Agency. Received approval from the USFDA for Investigational New Drug (IND) application for AUR-112, a highly differentiated potent and selective inhibitor of MAL Tl, being developed for the treatment of lymphoid malignancies. Entered into a non-exclusive patent licensing agreement with Takeda to commercialise Vonoprazan, a novel gastrointestinal drug, in India. G V Prasad, Co-Chairman & MD, Dr. Reddy's Laboratories, said: "We delivered another good quarter and maintained the growth momentum across businesses. We made progress on our future growth drivers, operationalized our venture with Nestle, and completed the acquisition of Nicotinell® and related brands. We will continue to drive efficiency, strengthen our core businesses, and positively impact patient lives through science and innovation."

Q1FY25 Quarterly Result Announced for Dr. Reddy's Laboratories Ltd.

Pharmaceuticals company Dr. Reddy's Laboratories announced Q1FY25 results: Revenues: Rs 76,727 million [Up: 14% YoY; 8% QoQ] Gross Margin: 60.4% [Q1FY24: 58.7%; Q4FY24: 58.6%] SG&A; Expenses: Rs 22,691 million [Up: 28% YoY; 11% QoQ] R&D; Expenses: Rs 6,193 million [8.1% of Revenues] EBITDA: Rs 21,599 million [28.2% of Revenues] Profit before Tax: Rs 18,821 million [Up: 2% YoY; 18% QoQ] Profit after Tax: Rs 13,920 million- [Down: 1% YoY; Up: 7% QoQ) Commenting on the results, Co-Chairman & MD, G V Prasad said: "We had a good start to the new fiscal year and our growth & profitability was mainly driven by our generics business. We continue to strengthen our core businesses and have made strategic investments in biologics, consumer healthcare and innovation to drive patient impact and value creation."

Q4FY24 Quarterly & FY24 Annual Result Announced for Dr. Reddy's Laboratories Ltd.

Pharmaceuticals company Dr. Reddy's Laboratories announced Q4FY24 & FY24 results: Q4FY24 Financial Highlights: Q4FY24 consolidated revenues at Rs 70.8 billion, YoY growth of 12%, and QoQ decline of 2%. Gross Margin in Q4FY24 was at 58.6% (GG: 62.0%, PSAI: 28.6%), an increase of 140 basis points (bps) over the previous year and 7 bps sequentially. Selling, General & Administrative (SG&A;) Expenses in Q4FY24 were Rs 20.5 billion, YoY increase of 14% and by 1 % QoQ Research & Development (R&D;) Expenses Q4FY24 were at Rs 6.9 billion. As % to Revenues - Q4FY24: 9.7% I Q3FY24: 7.7% I Q4FY23: 8.5%. PBT: Q4FY24 at Rs 16.0 billion, YoY growth of 21 %, QoQ decline of 12%. PAT: Q4FY24 at Rs 13.1 billion, YoY growth of 36%, QoQ decline of 5% Diluted Earnings per Share (EPS): Q4FY24 is Rs 78.4 Earnings before Interest, Tax, Depreciation and Amortization (EBITDA): Q4FY24 at Rs 18.7 billion, YoY growth of 15% and QoQ decline of 11%. EBITDA margin is 26.4%. FY24 Financial Highlights: FY24 consolidated revenues at Rs 279.2 billion, YoY growth of 14%. Gross Margin in FY24 was at FY24 at 58.6% (GG: 62.9%, PSAI: 23.2%). Gross margin increased by 193 bps YoY. Selling, General & Administrative (SG&A;) Expenses in FY24 were Rs 77.2 billion, YoY increase of 13%. Research & Development (R&D;) Expenses FY24 were at Rs 22.9 billion. As % to Revenues - FY24: 8.2% I FY23: 7.9%. PBT: FY24 at Rs 71.9 billion, an increase of 19%. As % to Revenues - FY24: 25. 7% I FY23: 24.6%. PAT: FY24 at Rs 55.7 billion, a growth of 24%. As % to Revenues - FY24: 19.9% I FY23: 18.3%. Diluted Earnings per Share (EPS): FY24 is Rs 334.0 Earnings before Interest, Tax, Depreciation and Amortization (EBITDA): FY24 at Rs 83.0 billion, a YoY growth of 14%. EBITDA margin is 29.7%. Commenting on the results, Co-Chairman & MD, G V Prasad said: "Our growth and profitability in FY2024 has been driven by our performance in the US. We have also made significant progress on future growth drivers through licensing, collaboration and pipeline building. We will continue to strengthen our core businesses through superior execution as we invest and build the future growth drivers."

Q2FY24 Quarterly Result Announced for Dr. Reddy's Laboratories Ltd.

Pharmaceuticals company Dr. Reddy's Laboratories announced Q2FY24 results: Revenues of Rs 68,802 million, up 9% YoY and 2% QoQ. Gross Margin of 58.7%, compared to 59.1% in Q2FY23 and 57% in Q1FY24. SG&A; Expenses of Rs 18,795 million, up 13% YoY and 6% QoQ. R&D; Expenses of Rs 5,447 million, representing 7.9% of revenues. EBITDA of Rs 21,813 million, accounting for 31.7% of revenues. Profit before Tax of Rs 19,134 million, up 19% YoY and 4% QoQ. Profit after Tax of Rs 14,800 million, up 33% YoY and 6% QoQ. Commenting on the results, Co-Chairman & MD, G V Prasad said, "We delivered another quarter of strong results with highest ever sales and profits, driven by market share gains & momentum in our US generics business and robust growth in Europe. We are continuing to strengthen our pipeline both organically and through business development to drive growth and create differentiation."