Dr Reddy’s Laboratories has posted a net income of $64m for the Q2 FY11, or $0.4 per diluted share, compared to net income of $48.92m, or $0.3 per diluted share, for the comparable period in 2010.
Gross profit was $224m in Q2 FY11 at a margin of 53% to revenues versus 47% in Q2 FY10.
This change in gross margin is largely on account of contribution from new products of tacrolimus and amlodipine benazepril and one time inventory provisions of approximately $12m in the global generics segment in the corresponding quarter of previous year.
As a fully integrated pharmaceutical company, Dr Reddy’s Laboratories provides medicines through its three core businesses which are Pharmaceutical Services and Active Ingredients, comprising Active Pharmaceuticals and Custom Pharmaceuticals businesses; Global Generics, which includes branded and unbranded generics; and Proprietary Products, which includes New Chemical Entities (NCEs), differentiated formulations, and generic biopharmaceuticals.