Drug-maker Dr Reddy’s Laboratories’ consolidated net profit rose 8 per cent to ₹519 crore in the fourth quarter ended March 31 compared with ₹481 crore a year ago.
Revenue for the Hyderabad-based company increased 11 per cent to ₹3,870 crore, from ₹3,480 crore in the March quarter last year.
For the full year ended March 31, the company posted a 3 per cent rise in profit at ₹2,217 crore (₹2,151 crore in FY14) on a 12 per cent revenue growth at ₹14,818 crore (₹13,217 crore).
Announcing the numbers at a press conference here on Tuesday, Dr Reddy’s Chief Financial Officer Saumen Chakraborti said the profit would have been higher except for the adverse impact of the Russian rouble and the impact of multiple exchange rates in Venezuela, which was recorded as a forex loss of ₹84 crore.
The company reported 17 per cent sales growth in North America, 13 per cent in emerging markets, 10 per cent in Europe and 77 per cent in the rest of world.
“We have crossed the landmark of $1 billion sales in the US,” Chakraborti said.
During the period under review, Dr Reddy’s filed three new drug applications and invested about ₹1,000 crore in capital expenditure. The R&D expenses rose 14 per cent to ₹1,744 crore.
GV Prasad, Co-Chairman and CEO, said the company is expecting double digit growth in the current financial year. “A lot depends on regulatory approvals which have been slow in the recent past,” he said, adding the turnaround was achieved in Europe, besides steady growth in the domestic market. The capex during FY-16 could be around ₹1,200 crore.
The board of directors had recommended a final dividend of ₹20 (400 per cent) per equity share of ₹5 face value, for 2014-15.
The dividend on equity shares, if declared by the shareholder at the ensuing Annual General Meeting, will be credited or despatched on or after August 07, 2015.
The company’s scrip gained 3.08 per cent on the BSE on Tuesday to close at ₹3,465.60.