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The results came after the close of the market hours. Shares of Dr Reddy's Laboratories Ltd ended at Rs 4,196.40, down by Rs 55.40, or 1.30 percent on the BSE.
Dr Reddy's Laboratories Ltd on Wednesday, January 25, reported a 76.5 percent year-on-year (YoY) increase in net profit at Rs 1,247 crore for the third quarter that ended December 31, 2022.
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In the corresponding quarter last year, the company posted a net profit of Rs 706.5 crore. CNBC-TV18 Polls had predicted a profit of Rs 835.5 crore for the quarter under review.
Total income stood at Rs 6,770 crore during the period under review, up 27.3 percent against Rs 5,319.7 crore in the corresponding period of the preceding fiscal.
At the operating level, EBITDA jumped 55.3 percent to Rs 1,966 crore in the third quarter of this fiscal over Rs 1,266 crore in the corresponding period in the previous fiscal.
EBITDA margin stood at 29 percent in the reporting quarter compared to 24 percent in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation and amortization.
G.V. Prasad, Co-Chairman and MD, said, "Our strong financial performance was supported by growth in the US and the Russian markets. We continue to strengthen our development pipeline to reach more patients globally."
(Edited by : Shoma Bhattacharjee)