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News Topical, Digital Desk : Dr Reddy's Laboratories, a pharma company listed on the BSE 100, has announced its September quarter results. The company's profits grew by over 7 percent year-on-year, although slightly lower than expected. Revenue growth of around 10 percent was better than expected. EBITDA declined slightly but remained within expectations. Margins declined year-on-year and were weaker than market expectations. The results were released after the market closed. The stock closed with a gain of 0.3 percent in Friday's session.
The company's second quarter profit grew
by 7.3% to ₹1,347 crore, compared to ₹1,256 crore in the same quarter last year. This figure was lower than market estimates. A CNBC-TV18 poll had expected a profit of ₹1,403.7 crore. The company's revenue grew 9.8% year-over-year to ₹8,828 crore, compared to ₹8,038 crore in the previous year. The market had estimated revenue of ₹8,595.4 crore. EBITDA declined by 3.2% to ₹2,010 crore, compared to ₹2,076.8 crore in the same quarter last year. A CNBC-TV18 poll had estimated EBITDA of ₹2,208.5 crore. Margin declined to 22.8%, compared to 25.8% in the previous year. The estimate was 25.7 percent.
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