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Dr. Reddy's Laboratories quintupled his consolidated net profit of Rs 456 crore in the first quarter, thanks to the weak base of the previous year where sales were affected by the deployment of the GST and sales in the United States and emerging markets.
Revenues during the quarter increased 12 percent to Rs 3,721 crore compared to Rs 3,316 crore in the same quarter last year. Earnings before interest, taxes, depreciation and amortization for the quarter were Rs 807.1 million, an increase of 140 per cent year-on-year. The EBITDA margin of 21.7% improved by 1160 basis points compared to last year.
According to a poll of Reuters badysts, net profit is expected to quadruple to reach 302.8 million rupees in the first quarter of 19. "I am pleased with our first quarter results, helped by the launch generic suboxone, "said GV Prasad, chairman of the board of directors and co-chairman of the company. Dr. Reddy & # 39; s
"Our operational efficiency focus has helped us significantly improve our margin profile as we continue to experience price erosion in the North American generic market. We will also continue to drive growth and costs. "Prasad added:
The global generics business figure, which contributed 80% of total revenue, increased by 12% to 3063 , 6 million rupees year-on-year, and 10% on a sequential basis.
Activity in North America, which accounts for approximately 43% of global generic sales, grew by 6% to 1,590, 3 million rupees in the first quarter year-on-year thanks to the contribution of new products, mainly suboxone generic drug-addiction, and partially offset by competitive pressures on some of the molecules. the keys.
As of June 30, 2018, 112 generic filings are pending approval with the USFDA. Of these 109 applications for new abbreviated medicines (ANDA), 61 are para-IVs, 30 of which have First to File status.
Emerging markets, which contribute 18% of generic sales, fell by 21% to Rs 664.3 million. Q1. The business figure from Russia rose 9% to Rs 380 crore due to new launches and volume pull in some of the major molecules.
India's revenues increased by 30% to 607.4 crores in Q1FY19. Sales in Europe fell by 3% in the first quarter of 1999 to Rs 200 due to price erosion of some of its main products
The Pharmaceutical Services and Ingredients business turnover Assets (PSAI) increased by 16% to 540.9 crore YoY. Shares of Dr Reddy rose 2.19% to close at Rs 2134.65 on BSE, Senbad's benchmark gained 0.34% to complete 36,984.64 points.
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