Strong India growth boosts DRL Q1 profit by 108% to Rs 1,188 crore

Hyderabad-based Dr Reddy’s Laboratories (DRL) has posted a sharp 108 per cent YoY rise in its Q1FY23 profit after tax -- which came in at Rs 1,188 crore -- riding on strong growth in its India business. The revenue for the June quarter was up 6 per cent to Rs 5,215 crore.

The DRL stock was down marginally (0.73 per cent) to Rs 4,254 on the BSE on Thursday. The company’s India business grew by 26 per cent YoY to Rs 1,333.9 crore. This was driven by the divestment of a few non-core brands, the company said.

M V Ramana,