Dr Reddy’s Lab consolidated net soars 36%

Hyderabad: Powered by robust revenues from the US generics market, pharma major Dr Reddy’s Laboratories on Tuesday said it has posted a 36% jump in consolidated profit after tax (PAT) for the fourth quarter ended March 31, 2024, at Rs 1,307 crore as against Rs 959 crore in the corresponding quarter of financial year 2022-23 (FY23).
This was on a 12% rise in revenues for Q4FY24 at Rs 7083 crore from Rs 6297 crore in Q4FY23.For FY24 it posted a 24% increase in consolidated PAT at Rs 5,568 crore as compared to Rs 4,507 crore in FY23 on a 14% rise in revenues for FY24 at Rs 27,916 crore from Rs 24,588 crore in FY23.
The growth was largely driven by a 15% rise in global generics, which was powered by robust 28% revenue growth from the North American market followed by Europe (17%). Generics revenues from the Indian market declined 5% while those from emerging markets clocked a 7% increase. Dr Reddy’s co-chairman & managing director GV Prasad said growth and profitability was driven by performance in the US market.