Dr. Reddy's Laboratories reported 8 per cent annual growth in its consolidated net profit for the January-March on the back of strong growth in its revenues.
Dr. Reddy's Laboratories reported a net profit of Rs 519 crore over sales of Rs 3,870 crore in the quarter ended March 31, 2015. The pharma major had reported a net profit of Rs 482 crore on sales of Rs 3,480 crore in the corresponding quarter of last fiscal.
Analysts polled by NDTV had estimated its net profit at Rs 590 crore over sales of Rs 3,868 crore.
Dr. Reddy's net profit in the March quarter was impacted by forex losses of Rs 84.3 crore high research & development (R&D) expenses which came in at Rs 514 crore against Rs 398 crore year-on-year.
Operating profit (EBITDA) of the company came in at Rs 810 crore against Rs 781 crore year-on-year and its operating margin, a major of profitability declined 80 basis points annually to 21 per cent. Analysts had estimated its EBITDA margin at 22 per cent.
The company has declared a dividend of Rs 20 per share.
Shares of Dr. Reddy's Laboratories closed 3.25 per cent higher at Rs 3,468.90 apiece, outperforming the broader Nifty, which ended 2.38 per cent lower.
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