Dr Reddy’s Laboratories has announced its unaudited financial results for the first quarter ended June, 2009. The company has reported an overall revenues of $381 million in Q1 FY10, as compared to $315 million in Q1 FY09, showing an increase of 21%. The growth in revenues was attributed to sumatriptan and to the key markets of North America and India, said the company.
EBITDA for Q1 FY10 was $91 million, as compared to $48 million in Q1 FY09, an increase of 90%. Profit after tax for the company was $51 million, as compared to $23 million, representing a growth of 120%.
The company’s gross profit increased by 36% to $213 million in Q1 FY10, as compared to $157 million in Q1 FY09.
Dr Reddy’s Laboratories is a vertically integrated pharmaceutical company with a presence across the pharmaceutical value chain. It produces finished dosage forms, active pharmaceutical ingredients and biotechnology products and markets them globally, with focus on India, US, Europe and Russia. The company conducts research in the areas of cancer, diabetes, cardiovascular, inflammation and bacterial infection.