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Dr. Reddy’s profit fell 28 percent; 9 percent growth in Annual revenue

May 15, 2021 03:10 PM

Dr. Reddy's profit fell 28 %; 9 % growth in Annual revenue; Dividend of Rs.25 per share
consolidated net profit of Rs 554 crore in the fourth quarter of last fiscal. Net profit for the same quarter in 2019-20 is Dr. Reddy's profit fell 28 percent.

Dr Reddy’s Laboratories had a consolidated net profit of Rs 554 crore in the fourth quarter of last fiscal. Net profit for the same quarter in 2019-20 is Dr. Reddy’s profit fell 28 percent from Rs 764 crore. The main reason for the decline in net profit was the decline in sales in the US market. During the same period, revenue rose 7 per cent to Rs 4,728 crore from Rs 4,431 crore.

For the financial year 2020-21: Dr. Reddy’s Laboratories had a net profit of Rs. 18,972 crore and a net profit of Rs. Revenue for 2019-20 was Rs 17,460 crore and net profit was Rs 1,949 crore. Compared to this, the annual income would have increased by 9 per cent.

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Dr. Reddy’s profit fell 28 percent; At the same time net profit fell 2 percent. Dr. Reddy’s earnings in North America fell 3 percent in the fourth quarter of last fiscal year. At the same time, European revenues grew by 15 per cent and sales in the domestic market by 23 per cent.

Other specialties:

* Dr. Reddy’s revealed that the Sputnik V vaccine has been made available domestically for the prevention of Kovid and that the single dose of the Sputnik V Lite vaccine will soon be applied for DCGA approvals. It is a known fact that the company is already selling Rendezivir, Favipiravir (Avigan brand) drugs for those suffering from this disease.

* Gross profit margin increased marginally to 54.3 per cent for the last financial year.

* 8.7 per cent (Rs. 1,650 crore) of revenue was spent on research and development activities.

* The company had a capital expenditure of Rs 970 crore in the last financial year.

* The company management has proposed to pay a dividend of Rs 25 per share to the shareholders for the financial year 2020-21.

We will bring new drugs:

Dr Reddy’s MD Jeevi Prasad said efforts were being made to bring in several new drugs with the aim of providing quick relief to those suffering from a moderate to moderate Covid-19disease. He explained that the last financial year saw efforts to achieve high growth in all business segments. Sputnik said all efforts were being made to make the V vaccine available nationwide as soon as possible.

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