HYDERABAD: Generics drug major Dr Reddy’s Laboratories Ltd (DRL) on Wednesday reported 76 per cent increase in its net profit at Rs 764 crore for the quarter ended March 2020 (Q4FY20), as against Rs 434 crore in the corresponding quarter a year ago.
The increase was due to high revenue contribution from the US and the European markets. The company’s revenue grew by 10 per cent at Rs 4,432 crore in Q4FY20 against Rs 4,017 crore a year ago.
For the full fiscal, revenue shot up 13 per cent to Rs 17,460 crore, and net profit rose by 4 per cent to Rs 1,950 crore over the previous year. However, profit before tax fell 20 per cent to Rs 1,803 crore during FY20 due to an impairment charge of about Rs 1,600 crore in Q3.
“FY20 has been a very positive year for the company. Progress made during the year includes VAI (voluntary action in) status for CTO 6, health product pipeline build up, productivity improvement, and strong financial performance across our businesses,” said G V Prasad, co-chairman & MD, DRL.
Among geographies, DRL’s India revenues grew at 5 per cent (partly due to Covid-19 related disruptions), while that in emerging markets including Russia shot up by 15 per cent. Similarly, revenue from European market clocked 49 per cent growth both because of volume gains and new product launches.
The global generics business stood at Rs 3,694 crore, up 20 per cent over the previous year, with the US market contributing a significant chunk as usual. Likewise, the pharmaceutical services and active ingredients segments grew 6 per cent to Rs 719 crore, while the proprietary products business shrunk a staggering 76 per cent.
DRL’s gross profit margin in Q4 fell by 90 bps at 51.5 per cent over last year, For the full year, this stood at 53.8 per cent, a fall of 40 bps YoY.
JK Lakshmi Cement sees 128% rise in Q4 profit
JK Lakshmi Cement on Wednesday announced a net profit of I101.21 crore in the January-March quarter of financial year 2019-20, against I44.40 crore it saw during the same quarter last fiscal, rising by a whopping 128 per cent. The company’s sales at I1,061.19 crore during the quarter were lower, as compared to I1,172.46 crore a year ago, owing to lockdown for the last 10 days of March.
Jubilant FoodWorks sees 58% drop in profit
Jubilant FoodWorks has seen 57.96 per cent drop in consoli-dated net profit at I32.53 crore for the March quarter of FY20, due to the Covid19-induced lockdown. The company, which operates fast food chains Domino’s Pizza and Dunkin’ Donuts, had posted a net profit of I77.38 crore in the fourth quarter last fiscal. Revenue from operations rose 4.11 per cent to I908.75 crore in the March quarter of FY20, against I872.82 crore a year ago.
JSW Energy profit up 28-fold at L108.44 cr
JSW Energy on Wednesday reported 28-fold jump in its consolidated net profit to I108.44 crore for the fourth quarter ended March, mainly due lower expenses. The company’s consolidated net profit attributable to owners of the company was I3.87 crore in the same quarter previous fiscal, it said in a statement. The total income stood I1,847.65 crore in the quarter as compared to I2,018.16 crore a year ago, said the statement.