Hyderabad: Driven by high sales in North America and Russia, Dr Reddy’s Laboratories Ltd. clocked in a net profit jump of 52 per cent at Rs 550 crore for Q1 that ended June, 2014 as compared to Rs 360 crore in the same period of 2013.
The total revenue grew by 24 per cent at Rs 3,517 crore. The revenues of global generics business stood at Rs 2,900 crore with YoY growth of 32 per cent which was primarily due to the market in North America which grew at 51 per cent.
This growth was because of sustained performance from limited competition launches like decitabine, azacitadine, zolerdronic and divalproex.
Along with this, the market also had four new launches and nine product filings in the US in Q1.
Commenting on the results, DRL’s COO, Abhijit Mukherjee said, “The first quarter filing has been healthy and much better than last year. Overall R&D production has been reasonably satisfactory.”
On the Indian market front, DRL’s revenue was at Rs 400 crore with growth rate of 15 per cent, driven by healthy volume expansion in focus brands, which are listed under the National List of Essential Medicines (NLEM) portfolio.
