DRL net rises to ₹709 cr. as impairment declines
The Hindu
Improved sales helps lift Q3 profit
Pharma major Dr. Reddy’s Laboratories reported consolidated net profit surged to ₹709.3 crore in the December quarter on improved sales in mainstay generics and a sharp decline in impairment charges compared with a year earlier.
Profit was ₹27.9 crore in the year-earlier quarter, when the impairment loss was almost ₹600 crore. Net sales rose to ₹5,103.1 crore (₹4,710.9 crore), as per the results prepared under Indian Accounting Standards.
Total income increased to ₹5,394.1 crore from ₹5,012.4 crore a year earlier. The impairment charge for the quarter was ₹4.7 crore. Net profit and total income, however, were lower on a sequential basis, with the drugmaker having posted ₹995.8 crore and ₹5,992.4 crore, respectively, for the September quarter.
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