Dr Reddy's Q1 profit up 52% on strong North America sales

Written By Unknown on Rabu, 30 Juli 2014 | 16.02

Consolidated revenue grew 23.6 percent to Rs 3,517 crore in the quarter ended June 2014 compared to Rs 2,845 crore in same quarter last year.

Moneycontrol Bureau

Drug maker  Dr Reddy's Laboratories met street expectations with the consolidated net profit rising 52.4 percent on yearly basis to Rs 550 crore driven by strong growth in US sales and also supported by emerging markets, Russia and domestic operations. Profit in the year-ago period was Rs 360.9 crore.

According to CNBC-TV18 poll estimates, analysts had expected the pharmaceutical firm to report net profit of Rs 557.5 crore on revenue of Rs 3,540 crore for the quarter.

Consolidated revenue grew 23.6 percent to Rs 3,517 crore in the quarter ended June 2014 compared to Rs 2,845 crore in same quarter last year. "Revenue from global generics segment jumped 32 percent year-on-year to Rs 2,900 crore but pharmaceutical services and active ingredients (PSAI) segment reported a 6 percent decline in revenue at Rs 550 crore," said the company in its filing.

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