Dr. Reddy's Laboratories Q4 Results: Profit Surges 36%, Beats Estimates

Dr. Reddy's Laboratories Ltd.'s net profit, for the January-March period of fiscal 2024, surpassed analysts' estimates.

The bottom line of the pharmaceutical company in the fourth quarter stood at Rs 1,310 crore, a jump of 36.4% from the year-ago period, according to a stock exchange filing on Tuesday. That compares with the Rs 1,215-crore estimate that analysts tracked by Bloomberg had projected.

• Net profit up 36.4% to Rs 1,310 crore versus Rs 960 crore (Bloomberg estimate: Rs 1,215 crore).

• Revenue up 12.6% to Rs 7,114 crore versus Rs 6,315.2 crore (Bloomberg estimate: Rs 7,027 crore).

• Ebitda up 19.4% to Rs 1,831 crore versus Rs 1,534 crore (Bloomberg estimate: Rs 1,810 crore).

• Margin at 25.7% versus 24.3% (Bloomberg estimate: 25.8%).

Shares of Dr. Reddy's Laboratories closed 0.5% lower at Rs 6,257.60 apiece on the National Stock Exchange, as compared with a 0.6% decline in the country's benchmark NSE Nifty 50.

(This is a developing story)