Friday, October 29, 2021

Dr Reddys Labs profit grows 30% YoY in Q2 | Stock Analysis & Outlook

     

Dr Reddys Labs gains 7% as profit grows 30% YoY in Q2


Dr Reddy's global generic business grew 19 per cent YoY to Rs 4,743 crore driven by covid portfolio, new product launches and base business volume traction across key markets.


In Q2FY22, Dr Reddy's revenues grew 18 per cent YoY at Rs 5,763 crore from Rs 4,897 crore in the previous year quarter. Earnings before interest, tax, depreciation and amortization (ebitda) rose 23 per cent YoY at Rs 156 crore while margins improved 110 basis points (bps) to 27 per cent from 25.9 per cent in Q2FY21.

However, the company's gross profit margins decreased by 50 bps at 53.4 per cent over previous year, majorly on account of price erosion and lower export benefits, partially offset by leverage benefit on manufacturing overheads.


Stock Outlook

Strong long term outlook . In short term can remain sideways with positive nature , can test 4948 - 5134.




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