Dr Reddy’s Laboratories Ltd has posted a net profit of ₹574.53 crore for the quarter ended December 31, 2014, down 7 per cent against ₹618.42 crore in the corresponding quarter last year on a consolidated basis.

Total income was, however, up 9 per cent from ₹3533.8 crore for the quarter ended December 31, 2013, to ₹3843.1 crore for the third quarter this fiscal, driven by growth of branded markets.

On a standalone basis, Dr Reddy’s has posted a net profit of ₹71.59 crore for the quarter ended December 31, 2014, against ₹62.31 crore in the corresponding quarter last year.

Total income has decreased from ₹2646.96 crore registered during the third quarter ended December 31, 2013, to ₹2213.64 crore for the quarter ended December 31, 2014.

Addressing a press conference, Abhijit Mukherjee, COO and Saumen Chakraborty, CFO, described the third quarter growth as healthy and satisfactory given the currency fluctuation and global macro economic conditions.

Chakraborty said that the US was witness to a growth of 4 per cent (₹1,682 crore), emerging markets were up 16 per cent (₹860 crore) and India was up 11 per cent (₹433 crore). However, the rouble depreciation was a matter of concern which resulted in lower revenues from Russia.

They said that the company had planned a capex of ₹1,000 crore for the current fiscal, and of this, ₹683 crore has been spent. The company generated a free cash flow of ₹296 crore last quarter and ₹731 crore in nine months this fiscal against last year’s ₹877 crore.

During the quarter, the company launched 13 new generic products and filed 18 new product registrations globally. The company also completed the acquisition of Habitrol from Novartis for $80 million and began marketing the product,

Dr Reddy’s shares closed at ₹3,287, up 1.51 per cent.

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