Dr Reddy's Laboratories July-September quarter net profit down 1% to Rs 305 crore

New Delhi: Dr Reddy’s Laboratories (DRL) on Tuesday reported a marginal decline of 1.13 percent in consolidated net profit to Rs 305.4 crore for the second quarter ended 30 September, 2017.

The drug major had posted a net profit of Rs 308.9 crore in July-September a year ago, DRL said in a filing to BSE.

DRL’s total revenue during the quarter under review stood at Rs 3,559.8 crore, down 1.56 percent, as against Rs 3,616.3 crore a year ago.

“Healthy performance in India, emerging markets, Europe and PSAI business as well as continued focus on cost control have contributed to sequential growth in our topline as well as bottomline with an EBITDA increase of 105 percent over the previous quarter,” Dr Reddy’s co-chairman and CEO GV Prasad said.

Total expenses were down 2.48 percent to Rs 3,182.9 crore as against Rs 3,264.1 crore.

During the period, revenue from DRL’s pharmaceutical service and active ingredients (PSAI) business was down 4.35 percent to Rs 721 crore as against Rs 753.8 crore.

Revenue from its global generics in the said quarter was also down 1.78 percent to Rs 2,867.2 crore.

However, contribution from proprietary segment was up 23.80 percent to Rs 72.8 crore as against Rs 58.8 crore.

Shares of Dr Reddy’s Laboratories were trading at Rs 2,486.10 per scrip, up 2.18 percent, on BSE.