Dr Reddys shows steady Q1 performance
23 Jul 2010
Dr Reddys Laboratories Ltd, India's second largest drug maker by sales, hyas reported a 7.5 per cent rise in profit for the first quarter ending 30 June. Net profit was at Rs244 crore, up from Rs227 crore a year earlier, according to a posting on the National Stock Exchange.
However, consolidated net profit was down at Rs210 crore from Rs244 crore. Consolidated revenues were also down at Rs1,683 crore versus Rs1,819 crore.
The company's trailing 12-month (TTM) EPS was at Rs50.11 per share (March 2010). The stock's price-to-earnings (P/E) ratio was 27.49. The latest book value of the company is Rs350.30 per share.
At current value, the price-to-book value of the company was 3.93. The dividend yield of the company was 0.82 per cent.
At a press conference in Bangalore, the company's managing director and chief operating officer Satish Reddy said the company's third biosimilar Darbepoetin will be launched soon in India.
The company has received seven ANDA approvals, five filings and three new product launches. The company expects to launch eight to ten new products in North America by the year-end.
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