This large-cap pharmaceutical company reports a 10-fold surge in Q4 net profit!
As the season of financial results is on the company has reported excellent numbers.
Results for the fourth quarter and year ended March 31, 2023, were unveiled by Dr Reddy's Laboratories Ltd.
On a consolidated basis, the company recorded an almost 10-fold increase in net profit for the fourth quarter ended March 31, 2023, from Rs 97.00 crore for the same quarter the previous year to Rs 960.10 crore. In Q4FY23, the company's total revenue climbed by 15.31 per cent to Rs 6,453.70 crore from Rs 5,596.80 crore in the same quarter the previous year.
The company reported an over 2-fold increase in net profit for the year ended March 31, 2023, from Rs 2,182.50 crore to Rs 4,507.30 crore on a consolidated basis. When compared to the year ended March 31, 2022, the company's total revenue climbed by 16.78 per cent, reaching Rs 25,725.20 crore from Rs 22,029,60 crore for the year under review.
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In the last trading session, scrip was closed at Rs 4,868 and opened at Rs 4,688 and currently trading at Rs 4,550.20. Till now it has touched a high of Rs 4,702.45 and a low of Rs 4,545. So far 51,677 shares were traded over the counter at BSE.
The company has a 52-week high of Rs 4,987 and a 52-week low of Rs 3787.55 with a face value of Rs 5 and a market cap of Rs 75790.64.
Since starting its generics business in India in 1986, Dr Reddy's Laboratories Limited has continuously met the requirements of millions of patients with high-quality, reasonably priced, and ground-breaking medications across therapeutic areas. It is now a major and reputable name in the healthcare sector. It operates three businesses: Global Generics, Proprietary Products, and Pharmaceutical Services and Active Ingredients.