Dr Reddy's posts 25 percent growth in first quarter

Dr Reddy's posts 25 percent growth in first quarter

Monday, 21 July 2008, 07:00 Hrs
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New Delhi:Top Indian drug maker Dr Reddy's Laboratories earned a total revenue of 15 billion ($350 million) and profit after tax (PAT) of 1.3 billion ($31 million) in the first quarter of the current fiscal, the company said in a regulatory statement Monday.

This represented a revenue growth of 25 percent when compared with a total revenue of 12 billion ($279 million) that the company had earned in the comparable period of the previous fiscal, the company said while announcing its unaudited financial results for the quarter ended June 30, 2008.

Profit after tax (PAT), at 1.3 billion ($31 million), has, however, declined 27.7 percent from 1.8 billion ($43 million) that the company had earned in the comparable period of the last fiscal.

PAT for the period under review is 9 percent of total revenues as against 15 percent of total revenues in the comparable period of last year, the statement said.

This translates to a diluted earnings per share (EPS) of 7.97 in the first quarter of the current fiscal as against 10.82 in the comparable period of last year, the statement said.

Gross profit at 7.6 billion in the first quarter of the current fiscal is down from 6.1 billion that the company had earned in the comparable period of last year.

The gross profit margin too has come down from 51 percent of total revenues to 50 percent of total revenues, the statement said.

Despite the decline in PAT and gross profit margins, the company's share price at Rs 675.65 closed Monday 15.30 or 2.32 percent higher from its previous close of 660.35 on the Bombay Stock Exchange (BSE).
Source: IANS
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