Dr Reddy’s Labs Q3 Profit At Rs 20 Crore

EBITDA clocked Rs 1,185 crore and EBITDA margin stood 24 per cent for Q3FY21.

Dr. Reddy’s Laboratories on Friday posted December third quarter consolidated net profit at Rs 20 crore compared with a loss of Rs 569.7 crore in the year-ago period.

The company said the Q3FY21 profit after tax (PAT) was affected majorly due to the non-recognition of deferred tax assets on impairment.

Revenue for the said quarter came at Rs 4,930 crore that was up 12 per cent year-over-year and 1 per cent quarter-over-quarter.

Gross margin stood at 53.8 per cent compared with 54.1 per cent year-over-year and 53.9 per cent quarter-over-quarter.

Selling, general and administrative expenses (SGNA) expenses rose 14 per cent year-over-year and 10 per cent quarter-over-quarter to Rs 1,439 crore. Research and Development (R&D) expenses stood at Rs 411 crore for the quarter.

Earnings before interest, taxes, depreciation, and amortisation (EBITDA) clocked Rs 1,185 crore and EBITDA margin stood 24 per cent for Q3FY21.

Dr Reddy’s said on Monday an independent board found Russia’s Sputnik V Covid-19 vaccine to be safe in its mid-stage trial in India, and recommended progressing to late-stage trials.

The company has submitted the mid-stage trial safety data to India’s drug regulator for review and approval to continue late-stage trials, Dr Reddy’s said in a regulatory filing.