Dr. Reddy's Laboratories Ltd., a global pharmaceutical company, reported consolidated loss for the third-quarter. However, on a stand-alone basis, the company posted a net profit for the quarter.
Consolidated Results
On Indian GAAP basis, the Hyderabad-based company posted third-quarter consolidated net loss of Rs.233.07 crore or Rs.13.81 per share, compared to a net profit of Rs.159.16 crore or Rs.9.39 per share in the third-quarter of 2008.
The company's quarterly net revenue from operations fell 6% to Rs.1,703.55 crore from Rs.1,804.99 crore in the year-ago quarter, while licence fees, service income and other operating income was Rs.54.32 crore, compared with Rs.41.33 crore in the corresponding quarter last year.
Research and development expenses during the quarter dropped 13% to Rs.87.47 crore from Rs.100.99 crore in the previous year quarter.
During the quarter, the company launched 27 new generic products, filed 16 new product registrations and filed 11 DMFs globally.
For the first nine months, the company reported consolidated net profit totaling Rs.245.67 crore, down 27% from Rs.337.75 crore for the comparable period a year-ago. Total revenue, including licence fees, service income and other operating income rose 9% to Rs.5,446.50 crore from Rs.4,977.07 crore in the corresponding period last year.
Stand-alone Results
Dr. Reddy's Lab's third-quarter stand-alone net profit was Rs.168.42 crore or Rs.9.92 per share, 62% higher than Rs.103.67 crore or Rs.6.12 per share in the third-quarter of 2008.
The company's quarterly net revenue from operations grew 8% to Rs.1,031.36 crore from Rs.952.12 crore in the year-ago quarter, while licence fees, service income and other operating income amounted to Rs.19.38 crore, compared with Rs.90.00 crore in the corresponding quarter last year.
For the first nine months, the company reported stand-alone net profit of Rs.592.92 crore, up 47% from Rs.404.72 crore for the comparable period a year-ago. Total revenue, including licence fees, service income and other operating income rose 10% to Rs.3,380.92 crore from Rs.3,079.15 crore in the corresponding period last year.
Segment-wise Revenues
During the quarter, revenue from Pharmaceutical Services and Active ingredients increased 7% to Rs.424.48 crore from Rs.395.71 crore in the prior year quarter, while revenue from Global Generics was Rs.639.90 crore, down 9% from Rs.706.60 crore in the corresponding quarter last year. Revenue from Property Products for the quarter was Re.1.54 crore, compared with Re.0.04 crore for the same period a year-ago.
At the BSE, Dr. Reddy Lab closed Wednesday's trading at Rs.1,201.50, up by Rs.20.75 or 1.76% on a volume of around 131,000 shares. The scrip touched an intraday high of Rs.1,218.90 and a low of Rs.1,141.15.
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