Dr Reddy’s Laboratories Ltd has declared its consolidated profit after tax (PAT) for the quarter ended June 30, 2022 up by 108 per cent at Rs 1187.6 crore against Rs 570.8 crore in the same quarter a year ago. Revenues were up by six per cent to Rs 5,215.4 crore compared to Rs 4,919.4 crore in the first quarter of FY ’22.
Other operating income was at Rs 600 crore compared to Rs 50 crore in Q1 FY ’22. The increase was mainly on account of recognition of income from settlement agreement with Indivior Inc., Indivior UK Limited and Aquestive Therapeutics, Inc., resolving all claims between the parties relating to the generic buprenorphine and naloxone sublingual film, Dr Reddy’s said in a press release.
Co-chairman and MD G V Prasad said, ”Our underlying business revenues adjusted for Covid products contribution during last year have grown well. The profits were aided by a few non-recurring incomes, offsetting the near-term headwinds. We continue to improve the health of our core businesses through productivity improvement and robust product pipelines.”
Vedanta Q1 profit rises
Vedanta Ltd., a diversified natural resources company, has reported a marginal 4.6 per cent rise in consolidated net profit at Rs 4,421 crore for the quarter ended June. The company had posted a consolidated net profit of Rs 4,224 crore in the year-ago period, Vedanta Ltd said in a regulatory filing. Its consolidated income during the April-June period increased to Rs 39,355 crore from Rs 29,151 crore last year.