bullish
Dr. Reddy's Laboratories (DRRD IN): India Business Still the Brightest Spot; Slow Recovery in the US
379 Views08 Sep 2022 21:57
SUMMARY
- Dr. Reddy's Laboratories (DRRD IN) reported Q1FY23 results, with revenue growing 6% and 108% y/y, mainly driven by a 26% y/y growth in India business.
- Despite price erosion and increasing competition in some of the key products, North America revenue grew 2% y/y, driven by launch of new products and favorable forex rates.
- Bottom line got benefitted from one-off items including settlement income and non-core brand divestment proceeds. Net profit surged 108% y/y.
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Tina Banerjee
Global Healthcare Analyst
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