Dr Reddy’s Laboratories Q2 Results: Dr Reddy’s Laboratories announced its July September quarter results for fiscal 2024-25 (Q2FY25) on Tuesday, November 5, reporting a drop of 9.5 per cent in consolidated net profit to ₹1,342 crore, compared to ₹1,482 crore in the corresponding period last year.
The net profit of India’s leading pharmaceutical major missed analysts expectations in the second quarter of current fiscal and was weighed down by pricing pressure in a competitive North American market, their biggest by revenue.
The drugmaker’s total revenue from operations in the second quarter of current fiscal rose 16.5 per cent to ₹8,016 crore as its revenue from North America climbed 17 per cent.
Dr Reddy’s largely attributed the sales growth in the region to a rise in volumes but said it was partly offset by price erosion.
Drugmakers have been benefitting from strong sales across North America for their generic version of Bristol-Myers Squibb’s popular cancer treatment drug Revlimid since its launch in 2022.
This, along with other generic drugs used to treat gastrointestinal and cardiovascular issues, boosted sales for Dr Reddy’s in the region.
Revenue from the India business, the company’s second-biggest market, climbed 18 per cent to ₹1,397 crore
