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Press Release

Dr. Reddy’s Q2 and H1 FY17 Financial Results

Dr. Reddy
Posted on: 26 Oct 16

HYDERABAD, India--(BUSINESS WIRE)--Dr. Reddy’s Laboratories Ltd. (BSE: 500124 | NSE: DRREDDY | NYSE: RDY) today announced its consolidated financial results for the second quarter and half year ended September 30, 2016 under International Financial Reporting Standards (IFRS).

Q2 FY17: Key Highlights

Revenues at Rs. 35.9 billion: QoQ growth: 11%

YoY decline: 10%

Gross Profit Margin at 56.0%. Lower by ~530 bps versus the same quarter last year

Research & Development (R&D) spend at Rs. 5.2 billion. [14.5% of Revenues]

Selling, general & administrative (SG&A) expenses at Rs. 11.8 billion [YoY increase: 6%]

Includes NPPA provision of Rs. 344 million, explained in details in the note

EBITDA at Rs. 6.4 billion [17.9% of Revenues]

Profit after tax at Rs. 2.9 billion [8.2% of Revenues]

H1 FY17: Key Highlights

Revenues at Rs. 68.2 billion

YoY decline: 12%

Gross Profit Margin at 56.1%. Lower by ~510 bps versus H1 FY16

Research & Development (R&D) spend at Rs. 10.0 billion. [14.7% of Revenues]

Selling, general & administrative (SG&A) expenses at Rs. 24.1 billion [YoY increase: 9%]

EBITDA at Rs. 10.4 billion [15.2% of Revenues]

Profit after tax at Rs. 4.2 billion [6.2% of Revenues]

Commenting on the results, Co-chairman and CEO, G V Prasad said, “All our major businesses have shown sequential improvement over the previous quarter with revenues growing by 11% and EBITDA by 61%. We have made considerable progress in our remediation efforts and continue to work on addressing the concerns of the regulators. Looking ahead we will continue to focus on launching new products in our generics business, improving productivity and strengthening our quality management systems.”

For more information:
www.businesswire.com/news/home/20161025005846/en/Dr.-Reddy%E2%80%99s-Q2-H1-FY17-Financial-Results

Editor's Details

Mike Wood
PharmiWeb.com
www.pharmiweb.com
editor@pharmiweb.com

Last updated on: 26/10/2016

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