Dr Reddy's 2nd-qtr net profit and sales rises beats forecasts
India’s second-largest drugmaker Dr Reddy’s Laboratories (NYSE: RDY) posted a strong set of financial results for the fiscal second quarter ended September 30, 2011, showing that net profit rose 7.3% to 3.08 billion rupees ($63 million), and sales leapt 21% to 18.7 billion rupees. The figures beat analysts’ consensus forecasts of net profit of 2.93 billion rupees on sales of 21.40 billion rupees.
Revenues from global generics for the second quarter were $329 million, representing year-on-year growth of 18% mainly driven by North America and Russia. Revenues from Pharmaceutical Services and Active Ingredients (PSAI) grew 28% to $121 million.
Regional generics performance
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