Hyderabad: Operational efficiencies, forex gains on account of weak rupee and the launch of a de-addiction in the US market helped Dr Reddy’s to post nearly eight-fold jump in its consolidated profit in the first quarter of fiscal 2018-19.
The pharma major’s profit in Q1FY19 was Rs 456 crore compared to Rs 59.1 crore in the year ago period. The revenue for the quarter under review was Rs 3,720.7 crore as against Rs 3,315.9 crore for the same period year ago.
DRL CEO G.V. Prasad called retrenchment of 200 staff a part of ongoing process. “We are looking at our own design, optimising it. As part of that some jobs were redundant and we have taken action. It is an ongoing process. Big phase of cuts is over. Overall put together it is 150 to 200 number we are looking at,” he said.
DRL has spent Rs 416 crore on R&D during Q1 and would spend about Rs 1,000 crore towards capex for the full year....