News
oi-Ajeeta Bhatia
Dr Reddy’s Lab, a major pharmaceutical company, reported a combined net profit of 959 crore for the fourth quarter of FY23, more than doubling year over year. Revenue also gained momentum year over year. On a quarterly basis, the Q4FY23 result was however weak.
The drug giant’s operating revenue in the March quarter totaled Rs 6,296.8 crore, up 16% year over year from Rs 5,436.8 crore in the same quarter last year. Comparatively to the same period last year, total expenses were down 13%, coming in at Rs 2,362 crore as opposed to Rs 2,722 crore.
EBITDA, or earnings before interest, taxes, depreciation, and amortisation, is the measure of operating margin. It increased by 1% to Rs 1,631 crore from the expected Rs 1,615 crore. Ebitda margin was 25.9 percent as opposed to estimates of 25 and 23.9 percent from one year prior.

The financial year 2022-23 has seen the company proposing a final dividend of Rs 40 (800 percent) per equity share with a face value of Rs 5 each. This dividend will be disbursed within five days from the date of approval by the shareholders at the 39th Annual General Meeting (AGM).
Over the years, Dr Reddy’s Laboratories has declared 24 dividends since September 7, 2000. In the last 12 months, the company has issued an equity dividend worth Rs 30 per share. Despite settling at Rs 4,865 per share in Wednesday’s trade, the stock has an average broker target of Rs 5,116.33, indicating a potential upside of 5 percent.
Story first published: Wednesday, May 10, 2023, 21:27 [IST]