Dr Reddy's posts Q3 results as per IFRS

▴ Dr Reddy's
Strong Q3 numbers for Dr Reddy's

Dr Reddy's recently announced their Q3 Numbers .Find below the highlights from the company press release

-`43.8 billion with a year-on-year growth of 14%. Sequentially, it has declinedby 9%. In Q2 FY 20, company had out-licensed 2 neuro products of the proprietary products business and recognized a revenue of `7.2 billion. Adjusted for this, the sequential quarter growth is 7%, and is highest ever quarterly sales from operations, without any one-off item.

- Revenues from Global Generics segment at `35.9 billion. Year-on-year growth of 15%, primarily driven by Europe,
Emerging Markets and India. Sequential growth of 9%, primarily driven by NAG, Europe and EM.

- Revenues from Pharmaceutical Services and Active Ingredients vertical at `6.9 billion. Year-on-year growth of 16% largely driven by increase in vo
of API business. There is a sequential decline of 3% due to lower volumes pick up compared to Q2.

- Revenues from Proprietory Products at `0.2 billion, as against `0.7 billion in Q3 FY 19 and `7.4 billion in Q2 FY 20, as company had out-licensed our commercialized derma products in Q4 FY 19 and commercialized neuro products in Q2 FY 20.

Commenting on the results, Co-Chairman and MD, GV Prasad said “The current quarter performance has been good across all our businesses and we achieved strong EBITDA margins. The profits were impacted due to trigger based impairment charge taken on a few products including gNuvaring. We continue to focus on execution and
have made significant progress on quality systems and operational efficiencies”.

Tags : #drreddys #strong #q3results #medicircle

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