Dr Reddy's consolidated net up 57 % in Q4

Rising on a few good product launches in the US generics market, Hyderabad-based pharma major Dr Reddy 's posted Q4 results that were welcomed by the stock market. The scrip was up 3.29 per cent on the Bombay Stock Exchange on Friday.

Its consolidated net profit grew by 57 per cent (year-on-year) to Rs 310 crore in the fourth quarter ended March 31, 2011. The total revenues were up 23 per cent to Rs 2,017 crore (Rs 1,642 crore). The revenues for the full year ended March 31, 2011, increased by 6 per cent to Rs 7,469 crore or $ 1.7 billion, while profits were up year-on-year 17 per cent to Rs 1,080 crore or $ 242 million.

The global generics segment grew by 10 per cent during the year driven largely by the performance in North America and emerging markets. Its dollar growth of 18 per cent in the North American generics market was led by new product launches in the last 12 months.

Other important markets like Russia, and other CIS markets posted a year-on-year growth of 19 per cent and the Indian markets grew at 15 per cent. Europe and in particular Germany still remained a worry with revenues from Europe for FY11 when compared to FY!) showed a decline of 13 per cent and by 25 per cent in Germany.

Revenues from the pharmaceutical services and active ingredients segment also showed a decline in FY11 when compared to FY10 and this was a decline of 4 per cent in rupee terms. The company however remains optimistic on reaching its goal of $3 billion total revenues in 2013.