Dr Reddy’s Laboratories Q4 Results Highlights: Net profit rises 36% YoY to ₹1,307 cr, revenue rises 12%; dividend declared

The live blog session has concluded. To sum up, Dr Reddy's Laboratories posted Q4 results that were largely in line with the estimates. The company's consolidated net profit increased by 36% year-on-year (YoY) to ₹1,307 crore, whereas revenue from operations increased by 12.6% YoY to ₹7,114 crore. Below are the key highlights.

All amounts above are in million

"Our growth and profitability in FY2024 has been driven by our performance in the US. We have also made significant progress on future growth drivers through lic;ensing, collaboration and pipeline building. We will continue to strengthen our core business through superior execution as we invest and build the future growth drivers," Dr Reddy's Laboratories MD G V Prasad said.

For the full fiscal year ended March 31, 2024, Dr Reddy's Lab reported a 24% rise in net profit at ₹5,568 crore, whereas the revenue from operations rose by 14% to ₹27,916 crore.

The company informed the exchanges that Parag Agarwal, its current chief financial officer (CFO), will retire on July 31, 2024. He will be succeeded by the incumbent deputy CFO M V Narsimhan, it added.

• The company's earnings before interest, taxes, depreciation and amortisation or EBITDA came in at ₹1,872 crore during the fourth quarter, up 14.8% as against ₹1,631.2 crore in the year-ago period.

• The margin increased by 50 basis points to 26.4% in Q4FY24, as against 25.9% in Q4FY23.

The board of directors of Dr Reddy's Lab has recommended a "final dividend of ₹40/- (800%) per equity share of ₹5 each for the financial year 2023-24".

The dividend will be paid on or after five days from the date of declaration of the final dividend by the shareholders at the ensuing 40th Annual General Meeting (AGM) of the company, a regulatory filing said.

The results logged by Dr Reddy's Lab is largely in line with the estimates. The net profit, at ₹1,307 crore, is marginally higher as compared to the average estimate of ₹1,291 crore shared by six brokerages.

The revenue from operations, at ₹7,114 crore, is marginally lower as against the estimate of ₹7,136 crore.

• The company's revenue from operations came in at ₹7,114 crore, higher by 12.6% as compared to ₹6,315 crore in Q4FY23.
• Sequentially, the revenue from operations marginally declined from ₹7,237 in Q3FY24.

• The company consolidated net profit came in at ₹1,307 crore, up 36% as compared to ₹960 crore in the year-ago period.
• Sequentially, the net profit dropped as compared to ₹1,381 crore in the December 2023 quarter.

At the closing bell, the shares of Dr Reddy's were valued at ₹6,273.4 apiece on the NSE. This marked a plunge of 0.32% as against the previous day's close.

Dr Reddy's Laboratories, one of the top pharmaceutical manufacturers based in India, will be declaring its results of Q4FY24 shortly. The estimates are upbeat, with the company expected to lodge double-digit growth in net profit and revenue.

The pharmaceutical major's market capitalisation stands at ₹1,03,510 crore. It is listed in Nifty50, one of the prime indices.

The company's stock has grown by 6.5% in 2024 so far, by 14.8% in the past six months, and by 26.4% in the last one year period.

The stock of Reddy's Laboratories was trading down by around 1% at ₹6,230 apiece on the NSE. The shares have edged lower throughout the trading session so far.

• The company's net profit, in the year-ago quarter, stood at ₹959 crore.
• In Q4FY23, Dr Reddy's Laboratories had logged a revenue from operations of ₹6,297 crore.

Year-to-date, Dr Reddy's shares have climbed by 8.5%, whereas, the growth has been sharper at 43% in the past one year period.

The company’s market capitalisation stands at ₹1.05 lakh crore, and it is counted amongst the stocks listed under NSE’s Nifty50, one of the prime indices.

• The company’s revenue from operations is expected to rise 13% year-on-year to ₹7,136 crore in Q4FY24.
• In the January-March period of 2023, the drugmaker had logged a revenue from operations of ₹6,297 crore.

• The net profit in Q4FY24 is seen at ₹1,291 crore, higher by 35% year-on-year as per an average of estimates shared by eight brokerages.
• In the same quarter a year ago, the net profit stood at ₹959 crore.

The stock of Dr Reddy's Laboratories opened in the green. At 9:45 am, they were trading at ₹6,320 apiece on the NSE, up 1% as against the previous day's close.

The company’s growth during the quarter under review remained resilient in both of its key markets – the United States as well as India, the analysts pointed out.

Dr Reddy’s Laboratories Q4 Preview

The net profit in the January-March 2024 period is likely to come in at ₹1,291 crore, higher by 35% as against ₹959 crore in the year-ago period, as per an average of estimates shared by eight brokerages.

The drugmaker’s revenue from operations is expected to rise 13% year-on-year to ₹7,136 crore in Q4FY24, as compared to ₹6,297 crore in Q4FY23.

Dr Reddy’s Laboratories shares

A day ahead of the release of Q4FY24 results, Dr Reddy’s Lab settled at ₹6,293.5 apiece on the NSE, down 0.8% as against the previous day’s close.

Year-to-date, the stock has risen by 8.5%, and a rally of 43% has been recorded in the past one year period.

The company’s market capitalisation stands at ₹1.05 lakh crore, and it is counted amongst the stocks listed under NSE’s Nifty50, one of the prime indices.