During the filing of the exchange, Dr. Reddy’s said, “In FY 2021 we continued to grow all our businesses, increase productivity and strengthen our growth pipeline.”
Dr Reddy Board
Dr. Reddy’s Laboratories, which produces the Russian Corona Vaccine Sputnik V in India, introduced it in the Indian market on Friday and also announced its prices. In India, the price of a single dose without GST has been kept at Rs 948. While its price including GST has been kept at Rs 995.40. But in the meantime, the company has received a strong setback in the quarterly results. The company’s profits have fallen by 29 per cent.
Hyderabad-based pharmaceutical company Dr. Reddy’s Laboratories told the exchange in its filing that its unified net profit in the fourth quarter ended March 31, 2021, fell 29 percent year-on-year.
224 crores fall in profits
During the fourth quarter, the company’s profit fell to Rs 557 crore. While the company earned a net profit of Rs 781 crore in the January-March period of 2019-20, that is, the company has suffered a loss of 224 crore in this quarter as compared to the previous year.
Dr Reddy’s Laboratories said in a regulatory filing that, however, net sales grew to Rs 4,608 crore in the quarter under review, compared to Rs 4,336.1 crore in the fourth quarter of 2019-20. In the financial year 2020-21, The company earned a consolidated net profit of Rs 1,952 crore as against Rs 2,026 crore in FY 2019-20.
Focus on production and growth
Net sales increased to Rs 18,420 crore during the last financial year as compared to the total sales of Rs 16,357 crore in the financial year 2019-20. GV Prasad, co-chairman and managing director of Dr Reddy’s Laboratories, said, “In FY 2021, we continued to grow all our businesses, increase productivity and strengthen our growth pipeline.” The company said that the first consignment of vaccine Sputnik V imported from Russia reached India on May 1. The vaccine was approved on 13 May 2021 from the Central Pharmaceutical Laboratory, Kasauli. More consignment of this medicine is going to reach India in the coming months. After that, its supply will also start from Indian manufacturing partners.
read this also: This favorite share of Rakesh Jhunjhunwala gave 40% return in 1 year, will you get profit, know the opinion of experts
read this also: APY: After retirement, there will be no problem of money, you can get 5 thousand pension by depositing only 248 rupees every month.