2024-11-06 11:09:26 :
Dr Reddys Laboratories Second Quarter Results Live: Dr Reddys Laboratories announced its second quarter results on November 5, 2024, and the results were mixed. The company’s revenue increased significantly by 16.45% year-on-year, but its profits fell by 15.28%, indicating that despite the increase in revenue, it still faces challenges in maintaining profitability.
Revenue increased 4.45% compared to the previous quarter. However, profits fell by 9.82%, highlighting the continued pressure on the company’s profitability. Selling, general and administrative expenses increased 3.5% month-on-month and 21.37% year-on-year, indicating that increased operating costs may affect overall profitability.
Operating income also showed a downward trend, down 3.99% month-on-month and 2.99% year-on-year. Notably, second-quarter earnings per share (EPS) were $15.85, a sharp decrease of 81.27% year-on-year, causing investors to worry about the company’s profitability.
In terms of market performance, Dr Reddys Laboratories returned -0.2% last week, 1.65% over the past six months, and 9.71% year-to-date. The company’s current market capitalization is $105980.1 Crore, a new 52-week high $1421.49 and lowest price $1063.96.
As of November 6, 2024, analysts remain cautious on Dr Reddys Laboratories, with 4 analysts recommending a strong sell, 10 analysts recommending a sell, 9 analysts recommending a hold, and 4 analysts recommending a hold Buy, with 6 analysts advocating Strong Buy. The current consensus recommendation is Hold, reflecting the company’s wait-and-see approach as it navigates its financial challenges.
Dr Reddy’s Laboratories Financial Status
| period | Q2 | Q1 | month-on-month growth | Q2 | year-on-year growth |
|---|---|---|---|---|---|
| total revenue | 8038.2 | 7696.1 | +4.45% | 6902.6 | +16.45% |
| Total Selling/General/Administrative Expenses | 3502.6 | 3384 | +3.5% | 2885.8 | +21.37% |
| Depreciation/Amortization | Chapter 397 | 380.6 | +4.31% | 375.5 | +5.73% |
| total operating expenses | 6358.7 | 5946.8 | +6.93% | 5171.4 | +22.96% |
| operating income | 1679.5 | 1749.3 | -3.99% | 1731.2 | -2.99% |
| net income before tax | 1917.4 | 1882.6 | +1.85% | 1916.7 | +0.04% |
| net income | 1255.7 | 1392.4 | -9.82% | 1482.2 | -15.28% |
| Diluted normalized earnings per share | 15.85 | 83.5 | -81.02% | 84.6 | -81.27% |
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