Pharma major Dr Reddy’s Laboratories is expected to post good growth in revenue in Q1 FY24 on the back of revenue from the new product launches and recovery in the US market. 

The Hyderabad-based drug-maker will announce the first quarter results on Wednesday.

Analysts and brokerages have forecast a ‘strong’ growth in net sales and profit for the company. The net sales and net profit have been pegged in the range of ₹6,100 crore-6,500 crore and ₹890 crore -₹1,100 crore respectively.

Dr Reddy’s posted a net profit of ₹1,188 crore in the first quarter ended June 30, 2022, as against ₹571 crore in the same quarter in the previous year, showing a growth of over 108 per cent. 

It clocked revenues of ₹5,215 crore (₹4,919 crore): a growth of 6 per cent.

Dr Reddy’s scrip ended at ₹5,426.30 with a gain of 0.64 per cent on BSE on Tuesday.