NEW DELHI: Pharma major Dr Reddys Laboratories on Friday reported a 77 per cent year-on-year (YoY) rise in consolidated net profit at Rs 503.80 crore for the September quarter.The company had reported Rs 284.90 croe profit in the yer-ago quarter.Consolidated net sales for the quarter rose 7 per cent to Rs 3,797 crore compared with Rs 3,546 crore in the same quarter last year.Co-chairman and CEO, GV Prasad said, "I am encouraged with our performance and progress in the second quarter.
Our continuous focus on execution, operational efficiency and cost optimisation are showing results.
Looking ahead, our priority will be to resolve pending regulatory issues, and continue to work on execution and cost structures that will enable affordable medicines for more patients." Gross margin for the quarter rose 55 per cent in September quarter cmopared with a rise of 55.7 per cent in June quarter and 53.33 per cent in the year-ago quarter."The sequential decline wasattributable to the contribution from gSuboxone sales.
ExSuboxone marginal improvement in margin led by higher contribution from branded generics markets, favorable forex partially offset by price erosion in some of our key molecules," the company said in a BSE filing.The company will hold earnings call at 6 pm.