Dr Reddy's Q4 net profit up 76 pc to Rs 764 cr

Pharma major Dr Reddy's Laboratories on Wednesday reported a 75.92 per cent rise in consolidated net profit at Rs 764.2 crore for the quarter ended March 31, 2020, on account of robust sales in the US and Europe. The company had posted a net profit of Rs 434.4 crore in the corresponding period of the previous fiscal, Dr Reddy's said in a BSE filing.

Consolidated revenue rose to Rs 4,431.8 crore during the quarter under review as against Rs 4,016.6 crore in the same period a year ago, it added. For the fiscal year ended March this year, the company posted a net profit of Rs 1,949.8 crore as against Rs 1,879.5 crore in the previous year.

Revenue for 2019-20 stood at Rs 17,460 crore as against Rs 15,385.1 crore in 2018-19. "FY 20 has been a very positive year for the company. Progress made during the year includes VAI status for CTO 6 (Srikakulum plant, Andhra Pradesh), healthy product pipeline build up, productivity improvement, and strong financial performance across our businesses," Dr Reddy's Laboratories co-chairman and MD GV Prasad said.

Shares of Dr Reddy's laboratories were trading at Rs 3,882.35 per scrip on the BSE, up 5.26 per cent from its previous close..