Dr Reddys Q4 results

Dr. Reddy's Laboratories has announced its fourth quarter FY24 results today, May 7.

Dr Reddy's Q4 results: Dr Reddy's Laboratories has announced its fourth quarter FY24 results today on May 7. The company's net profit has increased by 36 percent in the January-March quarter.

The company has registered a profit of Rs 1,307 crore during this period. The Hyderabad-based pharma firm had reported a profit of Rs 960 crore in the same quarter last year.

Along with this, the company has also declared dividend for its shareholders. Today, on May 7, the company's shares have fallen by 0.38 percent and the stock closed at Rs 6277.10.

Dr Reddy's revenue Rs 7083 crore

Dr. Reddy's Laboratories' revenue in the March quarter stood at Rs 7083 crore, which is 12 percent more than Rs 6297 crore in the year-ago quarter.

During this period, the company's EBITDA increased by 14 percent to Rs 1872 crore as compared to Rs 1631.2 crore in the last financial year. EBITDA margin stood at 26.4 percent compared to 25.9 percent.

Experts say blockbuster cancer drug Revlimid contributed about $100-115 million to fourth quarter revenue, helping not only profits but also margins.

Results were better than expected

In the March quarter, the company has presented better results than market expectations. A survey of eight brokerage firms estimated net profit at Rs 1,291 crore.

At the same time, according to the brokerage poll, the revenue was estimated to be Rs 7,136 crore.

Dr Reddy's shareholders will get dividend

The board of Dr. Reddy's Laboratories also declared a final dividend of Rs 40 (800%) at Rs 5 per equity share for the financial year 2023-24. Furthermore, Parag Aggarwal will retire as the Chief Financial Officer of the company on July 31, 2024. MV Narasimham, currently the Deputy Chief Financial Officer of the company, is being promoted as the Chief Financial Officer of the company with effect from August 1, 2024.