Express Pharma

Dr Reddy’s Q2 Revenues at Rs 35.5 Bn

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H1 Revenues at Rs 68.6 Bn, Q2 EBITDA at Rs 6.9 Bn

Dr Reddy has announced its consolidated financial results for the second quarter and half year ended September 30, 2017 under International Financial Reporting Standards (IFRS).

Q2 FY18: Key Highlights

  • Revenues at Rs 35.5 billion [QoQ growth: 7%; YoY decline: 1%]
  • Gross Profit Margin at 53.3% [Q1 FY18: 51.6%; Q2FY 17: 56.0%]
  • Research & Development (R&D) spend at Rs 4.2 billion. [11.8% of Revenues]
  • Selling, general & administrative (SG&A) expenses at Rs 11.0 billion [YoY decrease: 6%]
  • EBITDA at Rs 6.9 billion [19.4% of Revenues]
  • Profit after tax at Rs 2.8 billion [8.0% of Revenues]

H1 FY18: Key Highlights

  • Revenues at Rs 68.6 billion [YoY growth: 1%]
  • Gross Profit Margin at 52.5% [H1 FY17: 56.1%]
  • Research & Development (R&D) spend at Rs 9.3 billion. [13.5% of Revenues]
  • Selling, general & administrative (SG&A) expenses at Rs 22.8 billion [YoY decrease: 5%]
  • EBITDA at Rs 10.2 billion [14.9% of Revenues]
  • Profit after tax at Rs 3.4 billion [5.0% of Revenues]

Commenting on the results, CEO and Co-chairman, G.V. Prasad says, “Healthy performances in India, Emerging Markets, Europe and PSAI businesses, as well as continued focus on cost control, have contributed to sequential growth in our topline as well as bottom line, with an EBITDA increase of 105 per cent over the previous quarter. Looking ahead, we expect to see results from products launched in the U.S. during the first half of this fiscal. We will continue to focus on the launching of new products, as well as on improving operational efficiencies and quality management systems across the company.”

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