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Dr. Reddy’s Q3 FY19 Financial Results

2019年02月01日 PM09:45
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HYDERABAD, India

Dr. Reddy’s Laboratories Ltd. (BSE: 500124 | NSE: DRREDDY | NYSE: RDY) today announced its consolidated financial results for the quarter ended December 31, 2018 under International Financial Reporting Standards (IFRS).

Q3 Performance Summary

                 

9M Performance Summary

 

Rs.3,850 Cr

Rs.11,369 Cr

Revenue

Revenue

[Up: 1% QoQ; 1% YoY] [Up: 7% YoY]
 

53.9%

54.9%

Gross Margin

Gross Margin

[Q2 FY19: 55.0%; Q3 FY18: 56.3%] [9M FY18: 53.8%]
 

Rs.1,204 Cr

Rs.3,651 Cr

SGNA expenses

SGNA expenses

[Dc: 3% QoQ; Flat: YoY] [Up: 5% YoY]
 

Rs.367 Cr

Rs.1,195 Cr

R&D expenses

R&D expenses

[9.5% of Revenues]

[10.5% of Revenues]
 

Rs.581 Cr

Rs.1,659 Cr

Profit before Tax

Profit before Tax

[Flat: QoQ; Dc: 2% YoY] [Up: 57% YoY]
 

Rs.485 Cr

Rs.1,445 Cr

Profit after Tax

Profit after Tax

[Dc: 4% QoQ; Up: 45% YoY] [Up: 113% YoY]
 
 

Commenting on the results, CEO and Co-chairman, G.V. Prasad said “We continued to improve our performance in the third quarter of FY 19, supported by significant growth in emerging markets and India, pickup in new product launches, and improvements in cost structure. We are on track towards delivering sustainable & profitable growth.”

All amounts in millions, except EPS All US dollar amounts based on convenience translation rate of I USD = Rs.69.58

 
Dr. Reddy’s Laboratories Limited and Subsidiaries
 
Consolidated Income Statement
               
Particulars Q3 FY19 Q3 FY18

YoY
Gr %

Q2 FY19 QoQ
Gr%
($)     (Rs.)     ($)     (Rs.)         ($)     (Rs.)    
Revenues 553     38,500 547     38,060 1 546     37,978 1
Cost of Revenues 255     17,748     239     16,649     7     245     17,081     4
Gross Profit 298     20,752     308     21,411     (3)     300     20,897     (1)
Operating Expenses
Selling, General & Administrative expenses 173 12,036 173 12,048 (0) 178 12,372 (3)
Research and Development expenses 53 3,668 67 4,667 (21) 59 4,120 (11)
Other (income) / expense net (10)     (681)     (4)     (313)     118     (9)     (641)     6
Results from operating activities 82     5,729     72     5,009     14     73     5,046     14
Net finance (income) / expense 0 13 (12) (851) (102) (9) (625) (102)
Share of (profit) / loss of equity accounted investees, net of tax (1)     (89)     (1)     (85)     5     (2)     (109)     (18)
Profit before income tax 83     5,805     85     5,945     (2)     83     5,780     0
Income tax expense 14     953     37     2,601*     (63)     11     742     28
Profit for the period 70     4,852     48     3,344     45     72     5,038     (4)
                                             
Diluted Earnings Per Share (EPS) 0.42     29.21     0.29     20.13     45     0.44     30.31     (4)

* ~ Rs. 930 million impact on account of reforms in US tax laws

                             
As % to Revenues

Q3
FY19

Q3
FY18

Q2
FY19

Gross Profit 53.9 56.3 55.0
SG&A 31.3 31.7 32.6
R&D 9.5 12.3 10.8
EBITDA 22.5 21.2 22.8
PBT 15.1 15.6 15.2
PAT 12.6 8.8 13.3

 

EBITDA Computation

 
Particulars     Q3 FY19           Q3 FY18           Q2 FY19
    ($)     (Rs.) ($)     (Rs.) ($)     (Rs.)
Profit before Income Tax 83     5,805 85     5,945 83     5,780
Interest (income) net* (4) (260) (13) (881) (2) (132)
Depreciation 30 2,073 30 2,089 29 2,033
Amortization     15     1,035 13     902 14     965
EBITDA     124     8,653

116

    8,055 124     8,646

* Includes income from Investments

All amounts in millions, except EPS All US dollar amounts based on convenience translation rate of I USD = Rs.69.58

 

Key Balance Sheet Items

           
Particulars

As on 31st Dec,
2018

   

As on 30th Sep,
2018

   

As on 31st Dec,
2017

    ($)     (Rs.)     ($)     (Rs.)     ($)     (Rs.)
Cash and cash equivalents and other investments     368     25,593     299     20,837     360     25,032
Trade receivables (current & non-current)     536    

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