bullish
Dr. Reddy's Laboratories (DRRD IN): Q4FY23 Result- Sequential Decline in Key Parameters
437 Views12 May 2023 16:27
SUMMARY
- Dr. Reddy's Laboratories (DRRD IN) announced mixed Q4FY23 result, with revenue beating consensus and net profit missing expectations. Both revenue and net profit grew YoY but declined sequentially.
- North America grew 27% YoY (but declined 17% QoQ) to INR25.3B, driven by new product launches, growing market share in certain existing products, and favorable Fx movement.
- Revenue from India business increased 32% YoY and 14% QoQ to INR12.8B, driven by favorable price variance, new product launches including acquired/in-licensed products, and non-core brand divestments.
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Tina Banerjee
Global Healthcare Analyst
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