Dr Reddy's Laboratories Q2 net profit falls 36 pc to Rs 913 cr

New Delhi, Oct 23 (PTI) Dr Reddy’s Laboratories on Friday reported a 36 per cent decline in consolidated net profit to Rs 913.4 crore for the September quarter, impacted by lower lenalidomide sales and a fall in API volume offtake.

The company had posted a consolidated net profit of Rs 1,426.8 crore a year ago, Reddy’s Laboratories said in a regulatory filing.

Its revenue in the second quarter stood at Rs 8,670.8 crore in Q2 FY27 against Rs 8,805.1 crore in the year-ago period, it added.

Total expenses in the quarter under review rose to Rs 3,252.1 crore from Rs 3,062.7 crore, the company said.

In a post-earnings call, Dr Reddy’s Laboratories CFO M V Narasimham said the company will launch semaglutide in 10 markets, including a relaunch in Canada

in November, which is expected to drive growth in the second half of the ongoing fiscal. It has received all regulatory approvals.

Narasimham cited a steep decline in anti-cancer drug lenalidomide sales, particularly in North America, and lower active pharmaceutical ingredient (API) offtake as factors behind the dip in profit.

“However, if you see sequentially, there is an increase in profit and revenue,” he said.

During the June quarter, Dr Reddy’s posted a profit and revenue of Rs 434.8 crore and Rs 8,070.5 crore, respectively.

Its Co-Chairman and Managing Director GV Prasad said, “We continued to improve the overall health of our business, delivering double-digit base business growth and Ebitda margins of over 20 per cent during the quarter. We remain focused on strengthening our core businesses, enhancing productivity, and investing in strategic growth platforms to deliver consistent performance, while creating long-term value drivers.”

The company further said it will continue to explore opportunities for acquisitions and added that a few projects for partnerships are under discussion.

In the April-September (H1) period, the drugmaker posted a net profit of Rs 1,348.2 crore, a sharp fall from Rs 2,836.4 crore in the year-ago period.

Its revenue during the period stood at Rs 16,741.3 crore, down from Rs 17,350.3 crore in H1 FY26.

Shares of Dr Reddy’s Laboratories closed 1.17 per cent lower at 1,224.50 apiece on the BSE. The results were declared after market hours. PTI TRB SHM