HYDERABAD, India--(BUSINESS WIRE)--Dr. Reddy’s Laboratories Ltd. (BSE: 500124 | NSE: DRREDDY | NYSE: RDY) today announced its consolidated financial results for the fourth quarter and full year ended March 31, 2017 under International Financial Reporting Standards (IFRS).
FY17: Key Highlights
- Revenues at Rs. 140.8 billion: YoY decline: 9%
- Gross Profit Margin at 55.6%
- Research & Development (R&D) spend at Rs. 19.6 billion [13.9% of Revenues]
- Selling, general & administrative (SG&A) expenses at Rs. 46.4 billion [YoY increase: 1%]
- EBITDA at Rs. 25.5 billion [18.1% of Revenues]
- Profit after tax at Rs. 12.0 billion [8.5% of Revenues]
Q4 FY17: Key Highlights
- Revenues at Rs. 35.5 billion: QoQ decline: 4%; YoY decline: 5%
- Gross Profit Margin at 51.2%
- R&D spend at Rs. 4.6 billion [12.9% of Revenues]
- SG&A expenses at Rs. 11.0 billion [YoY decline: 6%]
- EBITDA at Rs. 6.3 billion [17.7% of Revenues]
- Profit after tax at Rs. 3.1 billion [8.8% of Revenues]
Commenting on the results, Co-chairman and CEO, G V Prasad said, “FY17 has been a challenging year due to lack of new product approvals for the US market. However, our other geographies delivered good performances, with several new product launches. We are also seeing expanded global access to our Biosimilars, as a result of successful registrations in Emerging Markets. We will continue our focus on rationalisation of cost structures and building a sustainable quality culture across the organisation.”
