Dr Reddy's net zooms to Rs 283 crore

Hyderabad, July 23 (UNI) Pharma major Dr Reddy's Laboratories Ltd today announced that its total net Profit After Tax (PAT) for the quarter ended June 30, 2007, had surged to Rs 283 crore, compared to Rs 147 crore during the same period last year.

Addressing the newspersons here, company Managing Director and Chief Operating Officer Satish Reddy said the gross profit margins on total revenues was 51 per cent as against 43 per cent in the corresponding period last year. However, the total revenue declined to Rs 12 billion as against Rs 14 billion in the last year.

Stating that the revenues from authorised generics contributed 24 per cent to total revenues and earned gross margins significantly below the company's average gross margin, Mr Reddy said revenues in India increased by 16 per cent to Rs two billion from Rs 1.7 billion last year.

Revenues in the API business increased by 13 per cent to Rs 2.6 billion from Rs 2.3 billion, he said.

UNI