By: IPP Bureau
Last updated : January 23, 2025 6:30 pm
The revenue from operations in Q3 FY25 is Rs. 8,358.6 crore, up 16% YoY
Dr. Reddy’s Laboratories Ltd. today announced its consolidated financial results for the quarter and nine months ended December 31, 2024.
The company announced a 2% year-on-year increase in consolidated profit after tax (PAT) to Rs. 1,413.3 crore for the quarter ended December 2024. The PAT in Q3 of last year stood at Rs.1, 378.9 crore.
The revenue from operations in Q3 FY25 is Rs. 8,358.6 crore, up 16% YoY as compared to Rs. 7,214.8 crore posted in the December 2023 quarter.
During Q3 FY25, Gross Margin stood at 58.7% (GG: 61.3%, PSAI: 28.6%), a YoY increase of 20 basis points (bps) and a QoQ decline of 91 bps. The YoY increase was primarily on account of favourable product mix, manufacturing overhead leverage, partly offset by price erosion. On a sequential basis, the decline was primarily on account of unfavorable product mix.
Commenting on the results, Co-Chairman & MD, G V Prasad said: “We delivered double digit growth aided by our newly acquired NRT business, new launches and improved operational efficiencies. We remain committed to addressing patient needs by advancing healthcare through access, affordability and innovation.”
The global generics segment revenue saw a 17% YoY increase in Q3 while the pharmaceutical services and active ingredients (API) segment witnessed a 5% growth in revenue. The growth was largely driven by revenues from the recently acquired Nicotine Replacement Therapy (NRT) portfolio, revenues from India and Emerging Markets.
During the quarter, Dr Reddy’s launched four new products in the US. A total of 11 products were launched during the nine months ended December 31, 2024, the company said.
The company also filed three new Abbreviated New Drug Applications (ANDAs) with the USFDA during the nine months ended December 31, 2024. As of December 31, 2024, 79 generic filings were pending approval from the USFDA. These comprise of 75 ANDAs and four New Drug Applications (NDAs). Of the 75 ANDAs, 44 are Paragraph IV applications, and we believe that 20 of these have the ‘First to File’ status.