Dr Reddy's net profit falls 13 pc to Rs 579 cr in June quarter

Dr Reddy's Laboratories on Wednesday reported 13 per cent fall in its net profit at Rs 579 crore against during the April to June quarter compared to Rs 663 crore in the year-ago period.

The revenue went up 15 per cent at Rs 4,418 crore as against Rs 3,844 crore while earnings before interest, taxes, depreciation and amortisation (EBITDA) were up 2.5 per cent at Rs 1,162 crore in Q1 FY21 as compared to Rs 1,134 crore in Q1 FY20.

The EBITDA margin stood at 26.3 per cent against 29.5 per cent year-on-year.

"The current quarter's financial performance has been strong across all parameters," said Co-chairman and Managing Director G V Prasad. "I am glad that we have been able to serve our patients well and ensured the continuity of business operations despite the challenging times."

Prasad said the company has started integration of the acquired business from Wockhardt and executed two important licensing arrangements for treatment options for COVID-19. "Currently, we are working towards bringing both these drugs to multiple markets."

At 3 pm, Dr Reddy's was trading 6.9 pc higher on BSE Ltd at Rs 4,329.50 per share.

( With inputs from ANI )