Q1 Results for Dr. Reddy’s Labs: According to a regulatory filing from Dr. Reddy’s Laboratories, revenue for the first quarter was Rs 7,673 crore as opposed to Rs 6,738 crore in the same period last year.
Dr Reddy Labs Q1 Earnings Marginal Dip
Q1 Results for Dr. Reddy’s Labs: On Saturday, the company announced that its consolidated earnings after taxes for the first quarter ended June 30, 2024, decreased slightly to Rs. 1,392 crore.
In the April–June quarter of the previous fiscal year, the pharmaceutical giant declared a profit after tax (PAT) of Rs 1,402 crore.
Dr. Reddy’s Laboratories, Dr Reddy Labs Q1 Earnings Marginal Dip
According to a regulatory filing from Dr. Reddy’s Laboratories, revenue for the first quarter was Rs 7,673 crore as opposed to Rs 6,738 crore in the same period last year.
G V Prasad, MD and co-chairman of Dr Reddy’s, stated, “We had a good start to the new fiscal year and our growth & profitability were mainly driven by our generics business.”
In order to maximize wealth creation and patient benefit, the company has made strategic investments in consumer healthcare, biologics, and innovation in addition to continuing to build its core businesses, he said.
Revenues from the generics business in North America increased by 20% year over year to Rs 3,846 crore in the first quarter compared to Rs 3,200 crore in the same time last year.
Compared to Rs 1,148 crore in the June quarter of the previous fiscal year, India’s generics business revenue for the first quarter was Rs 1,325 crore.
According to the corporation, the subdivision of each share, which had a face value of Rs. 5, into five shares, each with a face value of Re. 1, was approved by the board.
The board also authorized the purchase of preference shares for a maximum of GBP 500 million to be invested in Dr Reddy’s Laboratories SA, the company’s entity located in Switzerland.
The company intends to utilize the capital to purchase all of Northstar Switzerland SARL’s quotas, which are owned by the Haleon Group, in order to acquire Nicotinell and related brands.
Account opning link:
- Groww Account- https://app.groww.in/v3cO/kyrp1zph
- Kotak neo Account https://kotaksecurities.ref-r.com/c/i/32531/109103906
My name is Nitesh kumar and i am a Engineer but i have passionate in blogging, so these website updates day to day publish in stocks news and ipo’s and business related news update.
“Stock24News.com is your premier source for real-time financial updates and market insights. Stay informed with our expert analysis and comprehensive coverage of global stock trends.”
Thanks for your visiting in stock24news.com