Dr Reddy's 2012 revenues grew 20%, with earnings up 24%

Dr Reddy’s Laboratories (NYSE: RDY), India’s second largest drugmaker, has announced its audited consolidated financial results for the fourth quarter and full year ended March 31, 2013, showing that consolidated revenues for the year were 116.3 billion rupees ($2.13 billion), recording year-on-year growth of 20%. Excluding the beneficial impact of olanzapine (Eli Lilly’s antipsychotic drug Zyprexa) exclusivity in fiscal 2012, sales registered year-on-year growth of 26%.

Growth was primarily driven by North America and Emerging Markets (which include Russia, other CIS countries and Rest of World (RoW) territories) in the Global Generics segment; and overall performance by Pharmaceutical Services and Active Ingredients segment. Consolidated revenues for the fourth quarter came in at 33.4 billion, year-on-year growth of 26%.

Earnings before interest, tax, depreciation and amortization (EBITDA) were 27.8 billion rupees for the year, 24% of revenues, with year-on-year growth of 9.5%. EBITDA was 9.3 billion rupees in the fourth quarter, with year-on-year growth of 37%. Profit after tax for 2013 was 17.5 billion rupees, 15% of revenues with year-on-year growth of 17%. Profit after tax came in at 5.7 billion rupees in the fourth quarter, 17% of revenues with year-on-year growth of 67%.