Dr. Reddy's Labs Q3 Profit Edges Up, Revenues Rise - Quick Facts

(RTTNews) - India-based Dr. Reddy's Laboratories Ltd. (RDY) reported Tuesday that its third-quarter profit after tax edged up to $88 million from last year's $87 million.

Earnings per share were $0.51, same as last year.

In Indian rupees, profit grew 1 percent to 5.79 billion or 33.86 rupees per share.

EBITDA, a key earnings metric, meanwhile declined to $153 million from $159 million last year and margin dropped to 25.5 percent from 27.4 percent last year.

Consolidated revenues were $599 million, 3 percent higher than $581 million last year.

The company said the growth was driven by healthy performance in NAG, Europe and India, partially offset by Emerging markets, which were impacted by unfavorable macro-economic conditions.

Co-chairman and CEO, G V Prasad said, "The two approvals and one tentative approval of our NDAs in the very first review cycle has been a positive development and lays the foundation for building a strong and sustainable proprietary products business."