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SENSEX
NIFTY 50
NIFTY MIDCAP 100
S&P BSE MIDCAP
Hang Seng
Taiwan Weighted
DAX
Nasdaq
MCX GOLD APR 05
MCX SILVER MAR 05
MCX CRUDEOIL MAR 19
MCX NATURALGAS MAR 26
USD/INR
EUR/INR
GBP/INR
JPY/INR

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Dr Reddy's reports Q3 numbers in line with estimates: Here's what experts have to say

Updated : January 29, 2021 01:33 PM IST

Dr Reddy's Laboratories (DRL) reported its third-quarter numbers in line with estimates even as impairment charges hit the bottom-line. Profit before tax came in at Rs 882 crore, however, the profit after tax according to the management was impacted primarily because of a non-recognition of a deferred tax asset on impairments.

The margins were at 24 percent versus the CNBC-TV18 poll of 24.5 percent and the revenue has come in at around Rs 4,900 crore plus and that is in-line with CNBC-TV18 poll of around Rs 4,948 crore odd.

Overall, the firm reported a 12-13 percent growth year-on-year (YoY).

Market Expert Prakash Diwan said, “DRL becomes a proxy to whatever the sector is undergoing in terms of re-rating so after these numbers and this absorption of this one-off impairment you will probably see every strong organic growth trajectory that will emerge. This is a great opportunity after these numbers to keeping on adding this on dip, it is a buy on dips and it is one of the top picks in this space.”

Meanwhile, Vishal Manchanda of Nirmal Bang Institutional Equities said, “Barring the impairment charges that took, if we kind of knock that out the -earnings are not very bad so kind of more or less in-line but certainly a bit below expectation. The North American decline is a bit unexpected, on a sequential basis 5 percent, but the strong growth in India is something to cheer about because this business is something that people would value more than the North American business and hence this outperformance in India business would help the stock price recover.”

Disclaimer: The views and investment tips expressed by investment experts on CNBCTV18.com are their own and not that of the website or its management. CNBCTV18.com advises users to check with certified experts before taking any investment decisions.

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