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Dr. Reddy’s Laboratories Q1 results: Net profit down 0.74% despite revenue growing 13.86%

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Jul 27, 2024 07:23 PM IST

Dr. Reddy’s Laboratories’ net profit drops, despite growing revenues as the pharma giant incurred an increase of 29.66% in expenses

Dr. Reddy’s Laboratories Ltd has announced its first quarter results for the financial year 2024-25 on Saturday, July 27.

Dr. Reddy's Laboratories' net profit was down 0.74% despite revenue growing 13.86% (Representational/Unsplash)
Dr. Reddy’s Laboratories’ net profit was down 0.74% despite revenue growing 13.86% (Representational/Unsplash)

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How much was Dr. Reddy’s Laboratories’ revenue and net profit?

The pharmaceuticals giant’s consolidated revenue grew to 7,672.7 crore, which is a rise of 13.86% or 934.3 crore, compared to 6,738.4 crore in the first quarter of the financial year 2023-24.

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The net profit however, fell to 1,392 crore. This was a drop of 0.74% or 10.5 crore, compared to the same quarter of the previous year’s net profit of 1,402.5 crore.

Global generic drugs made up for most of the revenue, contributing 6,885.8 crore to it. This was an increase of 14.60% or 877.5 crore, compared to 6,008.3 crore in Q1 2023-24.

Pharmaceutical services and active ingredients contributed 1,030.9 crore to the revenue. This was an increase of 11.83% or 109.1 crore, compared to 921.8 crore in the same quarter of the previous year.

When it comes to net profit, global generics contributed 4,451.8 crore. This was an increase of 15.97% or 613.1 crore compared to the same quarter of the previous year’s 3,838.7 crore.

Pharmaceutical services and active ingredients contributed 176.8 crore to the net profit. This was an increase of 75.22% or 75.9 crore compared to 100.9 crore in the first quarter of the financial year 2023-24.

Global Generics

The profit before tax was 1,882.1 crore, an increase of 19.39% or 35.8 crore from 1,846.3 crore in Q1 2023-24.

How much was Dr. Reddy’s Laboratories’ expenses?

Dr. Reddy’s Laboratories incurred total operating expenses of 2,841.9 crore. This was an increase of 29.66% or 650.2 crore, compared to 2,191.7 crore in the same quarter of the previous year.

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The company incurred research and development (R&D) expenses of 619.3 crore in Q1 2024-25. This was an increase of 24.25% or 120.9 crore from 498.4 crore in the first quarter of the previous year.

Selling, general and administrative expenses added up to 2,269.1 crore, an increase of 28.18% or 498.9 crore, compared to 1,770.2 crore in Q1 2023-24.

How did Dr. Reddy’s Laboratories’ shares perform?

Dr. Reddy’s Laboratories’ shares closed at 6,892.15 on the Bombay Stock Exchange after Friday’s trading session, yesterday on July 26. This was an increase of 0.55% or 37.95 points compared to the previous close.

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