The drug maker on Tuesday reported an 11% year-on-year (YoY) jump in net profit at Rs 1,379 crore for the quarter ended December 31, 2023, as against Rs 1,247 crore a year ago. The company said the net profit was led by new products and base business market share gain in the US, and also new launches and strong volumes in Europe. The Hyderabad-based firm s revenue rose 7% at Rs 7,215 crore as against Rs 6,770 crore crore in the year-ago period.
The pharma industry is one of the few defensive industries and investor interest in it is also rising, as concerns about COVID-19 gain momentum, said Aamar Deo Singh, Senior Vice President, Research, Angel One.
Dr. Reddy s has become the first Indian pharma company to earn a place in the Standard & Poor Dow Jones Sustainability World Index (DJSI World) for 2023, a press release from the drug maker said.