Market

Dr Reddy’s Q4 PAT falls 76% YoY on impairment prices; misses estimates

Dr Reddy’s Laboratories, on Thursday, posted a 76 per cent year-on-year (YoY) decline in consolidated internet revenue at Rs 88 crores for the fourth quarter of monetary year (Q4FY22), lacking analyst estimates. This was resulting from impairment prices of Rs 751.5 crores through the quarter.

The company’s income got here at Rs 5,437 crores, up 15 per cent from final year, on robust development throughout all markets.

The company’s board additionally beneficial a ultimate dividend of Rs 30 per fairness share of face worth of Rs. 5 every for the monetary year 2021-22.

Co-Chairman and MD G.V.Prasad stated that inspite of a number of challenges, the company’s core business carried out properly, pushed by market share beneficial properties, some robust launches and productiveness enchancment.

Dr. Reddy’s stated the North America business grew 14 per cent YoY, Europe rose 12 per cent, and India 15 per cent. Largest improve was registered in rising markets at 36 per cent from final year.

The stock gained round 2 per cent outperforming the benchmarks, earlier than it erased beneficial properties partially.

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