Dr Reddy's Laboratories (DRL) on Friday reported a net profit of Rs 706.5 crore for the quarter ended December, missing Street estimates. The pharmaceutical major had reported a net profit of Rs 19.8 crore for the corresponding period a year ago.
Its revenue increased eight percent on a year-on-year basis to Rs 5,319.7 crore, according to a regulatory filing.
Analysts in a CNBC-TV18 poll had estimated the drug maker's quarterly net profit at Rs 755 crore and revenue at Rs 5,478.5 crore.
The drugmaker reported Rs 1,266 crore in earnings before interest, taxes, depreciation and ammortisation (EBITDA), up 7percent on a year-on-year basis.
Its margin came in at 23.8 percent in the quarter ended December 2021, as against 24 percent in the year-ago period.
Analysts had predicted DRL's EBITDA at Rs 1,232.6 crore and the EBITDA margin at 22.5 percent.
Dr Reddy's posted one percent sequential decline in North America sales, which account for 33 percent of its total sales. Analysts had expected the company's North America sales to grow nine percent.
The company's India sales declined 10 percent sequentially and grew seven percent on a year-on-year basis.
Its Europe sales declined two percent both sequentially and annually.
At 2:23 pm, Dr Reddy's stock was down 0.7 percent at Rs 4,227.9 on BSE.