Pharmaceutical major Dr. Reddy’s Laboratories announced its fourth-quarter results on Tuesday.
What Happened: The drugmaker said its profit grew 36% to ₹1,307 crore for the quarter ended March 31, up from the ₹959.2 crore it earned in the same quarter last year. This was slightly higher than analyst estimates of ₹1,291 crore.
The company’s revenue came in at ₹7,083 crore, up 12% from ₹6,296.8 crore a year ago. The figure was slightly lower than analyst estimates of ₹7,136 crore.
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The company’s also board also recommended a dividend of ₹40 per equity share for the year.
The firm’s EBITDA for the quarter grew 14.8% to ₹1,872 crore, higher than the ₹1631.1 crore it made last year.
Revenue from the North America segment grew 29% to ₹3,260 crore but also registered a quarter-on-quarter decline of 3%, owing to a decrease in base business volumes and price erosion in select brands, the company said.
Price Action: Dr. Reddy’s Labs ended the session on Tuesday down 0.32% at ₹6,273.40.
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