Dr. Reddy Labs Q4 Results FY2023, Profit at Rs. 9.6 billion

On 10th May 2023, Dr. Reddy Labs announced its quarterly results for the last quarter of FY2023.

Dr. Reddy Labs Financial Highlights:

- For Q4FY23, Revenue from operations stood at Rs. 62,968 million and for FY2023 it was reported at Rs. 2,45,879 million
-EBITDA for FY23 at Rs. 73.1 billion and the EBITDA margin is 29.7%. EBITDA for Q4FY23 at 16.3 billion and the EBITDA margin at 25.9%.
- Profit before Tax for FY23 at Rs. 60.4 billion, YoY growth of 87%. Profit before Tax for Q4FY23 is at Rs. 13.3 billion.
- Profit after Tax for FY23 at Rs. 45.1 billion and for Q4FY23 at Rs. 9.6 billion. 

Dr. Reddy Labs Business Highlights:

- FY23 revenue for the Global Generics segment at Rs. 213.8 billion higher by 19% over FY22. This growth was driven by North America, Europe, and India while Emerging markets remained flat. Q4FY23 revenue at Rs. 54.3 billion, YoY growth of 18%, and QoQ decline of 8%. YoY growth was driven by growth in North America, Europe, and Indian markets.
- FY23 revenue from North America Generics for the year at Rs. 101.7 billion, with YoY growth of 36%. The growth was contributed by new launches, scale-up of existing products, and favorable forex rates movement, which was partially offset by price erosion. Q4FY23 revenue at Rs. 25.3 billion, YoY growth of 27%, and QoQ decline of 17%. YoY growth was primarily on account of new product launches and favorable forex rates movement, partly offset by price erosion.
- FY23 revenue from Europe at Rs. 17.6 billion. YoY growth of 6%, driven by volume traction in base business and new product launches, which was partially offset by price erosion in some of the products. Q4FY23 revenue at Rs. 5.0 billion, YoY growth of 12%, and QoQ growth of 15% YoY growth was primarily on account of new product launches and traction in base business volumes, partly offset by price erosion in the base business.
- FY23 revenue from India at Rs. 48.9 billion. YoY growth of 17% was primarily attributable to the increase in prices of our existing products, along with additional revenues from the launch of new products. The growth was also aided by the divestment of a few non-core brands during the year. Q4FY23 revenue at Rs. 12.8 billion, YoY growth of 32%, and QoQ growth of 14%. 
- FY23 revenue from Emerging Markets at Rs. 45.5 billion, remained flat over the previous year. However, this grew by 13% adjusted for the covid related product sales and divestment income realized in the last year. Q4FY23 revenue at Rs 11.1 billion, YoY decline of 7%, and QoQ decline of 15%
- FY23 revenue from PSAI at Rs. 29.1 billion. YoY decline of 5%. The decline was mainly on account of a decline in base business volumes and price erosion in some of the products, partially offset by new product launches and favorable forex rate movements. Q4FY23 revenue at Rs. 7.8 billion, with a growth of 3% YoY, while it remained flat QoQ.