NEW DELHI: Dr Reddy’s Laboratories introduced a 36% rise in its consolidated revenue after tax (PAT), reaching Rs 1,307 crore for the March 2024 quarter, primarily pushed by sturdy gross sales within the US market. The corporate had reported a revenue after tax of Rs 959 crore in the identical quarter of the earlier fiscal 12 months.
Moreover, firm’s income additionally elevated to Rs 7,083 crore in Q4FY24 from Rs 6,297 crore within the fourth quarter of FY23.
Dr Reddy’s additional introduced that its PAT elevated to Rs 5,568 crore from Rs 4, 507 crore for the complete monetary 12 months ended March 31, 2024. The corporate’s income for FY24 stood at Rs 27,916 crore, up from Rs 24,588 crore in FY23.
“Our development and profitability in FY2024 has been pushed by our efficiency within the US. Now we have additionally made important progress on future development drivers by way of licensing, collaboration and pipeline constructing,” Dr Reddy’s Co-Chairman and Managing Director GV Prasad mentioned.
The North American market emerged as a key development contributor for the drug manufaturer, with income rising by 28% to Rs 129.9 billion in FY24. The corporate linked this development to elevated base enterprise volumes, the combination of the Mayne portfolio, and foreign exchange positive factors, which had been partially offset by value erosion.
Nevertheless, the corporate’s home market income declined by 5 p.c to Rs 46.4 billion in FY24 in comparison with the earlier fiscal 12 months.
The board of Dr Reddy’s, throughout its assembly on Tuesday, really useful a closing dividend of Rs 40 per share of Rs 5 every for the monetary 12 months 2023-24. Moreover, the corporate introduced the appointment of M V Narasimham as its new Chief Monetary Officer. Regardless of the optimistic monetary outcomes, the corporate’s shares closed 0.38 p.c decrease at Rs 6,277.10 apiece on the BSE.
Moreover, firm’s income additionally elevated to Rs 7,083 crore in Q4FY24 from Rs 6,297 crore within the fourth quarter of FY23.
Dr Reddy’s additional introduced that its PAT elevated to Rs 5,568 crore from Rs 4, 507 crore for the complete monetary 12 months ended March 31, 2024. The corporate’s income for FY24 stood at Rs 27,916 crore, up from Rs 24,588 crore in FY23.
“Our development and profitability in FY2024 has been pushed by our efficiency within the US. Now we have additionally made important progress on future development drivers by way of licensing, collaboration and pipeline constructing,” Dr Reddy’s Co-Chairman and Managing Director GV Prasad mentioned.
The North American market emerged as a key development contributor for the drug manufaturer, with income rising by 28% to Rs 129.9 billion in FY24. The corporate linked this development to elevated base enterprise volumes, the combination of the Mayne portfolio, and foreign exchange positive factors, which had been partially offset by value erosion.
Nevertheless, the corporate’s home market income declined by 5 p.c to Rs 46.4 billion in FY24 in comparison with the earlier fiscal 12 months.
The board of Dr Reddy’s, throughout its assembly on Tuesday, really useful a closing dividend of Rs 40 per share of Rs 5 every for the monetary 12 months 2023-24. Moreover, the corporate introduced the appointment of M V Narasimham as its new Chief Monetary Officer. Regardless of the optimistic monetary outcomes, the corporate’s shares closed 0.38 p.c decrease at Rs 6,277.10 apiece on the BSE.
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