Dr Reddy’s Q1 results 2022: Dr. Reddy’s Laboratories has released the first quarter results of the financial year 2022-23 on 28 July. For the quarter ended June 30, 2022, the company’s profit has increased by 108.05 per cent year-on-year to Rs 1188 crore. Let us inform that in the first quarter of the last financial year, the company’s profit stood at Rs 571 crore.
On a quarterly basis, the company’s profit has seen a manifold increase as the company’s profit in the January-March quarter stood at only Rs 87.5 crore. During the last quarter, the company had to make a provision for an impairment charge of Rs 751.5 crore. Had this charge not been provisioned, the company’s profit in the January-March quarter would have been Rs 839 crore.
For the first quarter ended June 30, 2022, the company’s consolidated income grew 6 per cent year-on-year at Rs 5,215 crore from Rs 4,919 crore in the first quarter of the previous fiscal. On a quarterly basis, the company’s earnings have seen a marginal decline of 4 per cent. The company’s income stood at Rs 5,437 crore in the January-March quarter.
The company’s EBITDA increased from Rs 1019 crore to Rs 1779 crore in the first quarter on a year-on-year basis, while the EBITDA margin increased from 20.7 per cent to 34.1 per cent. For the quarter ended June 30, 2022, the company’s North American business reported a year-on-year growth of 2 per cent at Rs 17.8 billion.
The European business, on the other hand, grew 4 per cent year-on-year to Rs 4.1 billion. While the income of the Indian business grew by 26 per cent to Rs 13.3 billion.
On the other hand, the earnings of the company’s emerging market business declined by 1 per cent to Rs 9 billion. On the other hand, the revenue of the Russian business declined by 9 per cent year-on-year to Rs 3.2 billion. The company’s Russian business reported a 53 per cent decline in earnings on a quarterly basis.
The company’s Indian business reported a 38 per cent quarter-on-quarter growth in earnings, while the European business’s revenue declined 7 per cent quarter-on-quarter. Similarly, the North American business also declined 11 per cent on a quarterly basis.