Dr Reddy's fourth quarter(January-March) net profit rose 101% year-on-year to Rs 334.5 crore on strong growth in revenue and other income. The company's quarterly revenues grew 23% to Rs 2017.3 crore, driven by strengths in its two key markets, US and Russia. North American revenues rose 18% in dollar term for the fifth consecutive quarter following 11 new product launches. Russian market grew by 29% on back of volume growth and over-the-counter initiatives, the company said in a press release Friday.
Dr Reddy's full-year (April-March) net profit rose on higher revenues and also because of one-time profit from sale of land and benefits from IFRS purchase price allocation accounting norms, the company said in a press release Friday.
The company's consolidated full-year (April-March) net profit rose to Rs 1,104 crore from Rs 106.8 crore a year ago on rise in net income to Rs 7,469.28 crore from Rs 7,027.65 crore.
Dr Reddy's full-year net profit was also aided by one-time profit of Rs 29.2 crore from sale of land and Rs 7.3 crore from goodwill as per IFRS purchase price allocation accounting on account of acquisition, the company said in the press release.
During 2010-11, the pharma company launched 135 new generic products, filled 107 new product registrations, and 56 Drug Mater File globally, the company said in the press release.
Dr Reddy's shares ended at Rs 1,655.45, up 3.29% on the Bombay Stock Exchange.
Source: www.moneycontrol.com
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