Dr Reddy's Q3 Net zooms 70% to Rs 618 crore on drug sales in US

HYDERABAD: Pharma major Dr Reddy's Laboratories Ltd today reported an over 70 per cent jump in net profit at Rs 618.42 crore for the third quarter ended December 31 on the back of profitable limited edition drug sales in the US market.

The city-based company had posted a net profit of Rs 363.31 crore in the year-ago period.

Consolidated income from sales during the reported quarter grew by 23 per cent to Rs 3,534 crore against Rs 2,865 crore in the third quarter of last fiscal, Saumen Chakraborty, President, CFO and Global head of Human Resources, told reporters here.

"Last quarter is a record performance for the company. Our gross margin is entirely healthy. This has happened because of some of the products we have launched during the previous quarter," Chakraborty said.

Generic revenues from North America stood at Rs 1,622 crore during the October-December quarter against Rs 924 crore in the same quarter last year resulting 76 per cent growth, the statement said.