Left Menu
Development News Edition

Dr Reddy's Q4 consolidated PAT up 44% at Rs 434 crore

PTI | Hyderabad | Updated: 17-05-2019 20:01 IST | Created: 17-05-2019 19:05 IST
Dr Reddy's Q4 consolidated PAT up 44% at Rs 434 crore
Image Credit: Wikimedia Commons

Dr Reddy's Q4 consolidated PAT up 44% at Rs 434 crore (EDS: ADDING MORE INPUTS) Hyderabad, May 17 (PTI): Dr Reddy's Laboratories Limited consolidated profit after tax for the quarter ended March 31, 2019, was up by 44 per cent at Rs 434.4 crore against Rs 302.2 crore in the third quarter of FY 18, a senior official of the city-based drug maker said Friday. President, CFO and global head (HR) of Dr Reddys Saumen Chakraborty in a press conference said the revenue for the quarter under discussion was up by 14 per cent at Rs 4,017 crore against Rs 3,535 crore in the same quarter last fiscal.

During the last quarter, the company entered into an agreement with Encore Dermatology, Inc. for sale and assignment of US rights relating to three of its dermatology brands. He said the company launched about 20 products during the last fiscal and expects to launch equal or more during the current fiscal.

"Some of the new launches will be the key driver of growth this year in the USA," he further said. Revenues from global generics segment in the Q4 was reported at Rs 3,038 crore a year-on-year growth of nine per cent over the same quarter last year, primarily driven by contributions from emerging markets and Europe, he said.

Those from North America grew by three per cent to Rs 1,496 crore against Rs 1,449 crore in Q4 of FY18. The revenues from India during the Q4 was at Rs 650 crore.

Those from pharmaceutical services and active pharma ingredients was at Rs 676.50 crore in the fourth quarter with eight per cent growth over the Q4 of FY 18, the official said. For FY 19, PAT stood at Rs 1,880 crore while revenue was 15,385 crore.

Chakraborty said research and development (R&D) expenses were at Rs 1,560 crore in FY 19. The CEO and co-chairman of the company GV Prasad said FY19 has been a good year with a significant turnaround in the financial performance and steady progress on the quality front.

Replying to a query, he said the Indivior Plc which tried to block Dr Reddy's launch of generic suboxone in the USA through legal battle posted a bond of USD 72 million to cover Dr Reddy's potential claim of lost profit while the injunction was contested in the US courts. Dr Reddy's relaunched its buprenorphine and naloxone sublingual film, the generic version of suboxone in the USA market in February 2019 at risk.

Indivior unsuccessfully contested in courts on the launch of Dr Reddy's drug. The matter is still pending in court.

Prasad said they would ask more than USD 72 million if the final verdict comes in their favour.



‘Discounted Deaths’ and COVID 19: Anthropology of Death and Emotions

Death is a social event rather than the mere cessation of biological functions. As seen by anthropologists, death is not just physical but intensely social, cultural, and political....

Indigenous knowledge of communities a must for maximizing impact of community work

Generally, it has been observed that the majority of the academicians in higher education institutions neglect the wisdom of community people and throw their weight around thinking that they know everything and the community knows nothing. ...

In rebuking FBR, Pakistan’s courts take a stand for public health

The system, if implemented effectively, will allow Pakistans revenue service to combat the illicit trade in tobacco products and potentially add hundreds of millions of dollars to the states budget each year. ...

Dissecting how COVID-19 is catalyzing the trajectory of New World Order

The ensuing pandemic of COVID-19 has hit the globalization in two ways firstly, shrinking the importance of globalization as an economic force by curtailing mobility through worldwide lockdowns, and secondly, rejuvenating the idea of indig...


Latest News

75 more Maharashtra policemen test positive for COVID-19

75 more COVID-19 cases have been reported among Maharashtra police personnel, taking the total coronavirus cases in the force to 1,964. In the last 24 hours, 75 police personnel have tested positive for COVID-19. The total number of coronav...

Australia drops probe of journalist over use of classified documents

Australian police have dropped their investigation of a News Corp journalist over the disclosure of a national security document in 2018, citing a lack of evidence.The Australian Federal Police AFP last June raided the home of a News Corp e...

Inflation-adjusted 'Amar Akbar Anthony' crosses 'Baahubali 2' collection, says Amitabh Bachchan

Megastar Amitabh Bachchan on Wednesday said his 1977 film Amar Akbar Anthony, which clocks 43 years, made Rs 7.25 crore when it released, a figure that crosses the collections of Baahubali 2 if adjusted for inflation. Bachchan said the fi...

China's survey team summits Mt Everest to measure its height

A Chinese survey team on Wednesday reached Mount Everest through Tibet to remeasure the exact height of the worlds tallest mountain. According to Chinas measurement the height of Mount Everest is 8844.43 meters which is four meters less tha...

Give Feedback