Hyderabad: Dr Reddys Laboratories Limited on Friday said its profit after tax (PAT) for the quarter ended September 30 was up 117 per cent to Rs 1,092.50 crore.
Attributing the increase to one-time revenues from selling the rights of three brands and tax advantage, president, CFO and global head (HR) of the city-based drug-maker Saumen Chakraborty said the PAT was Rs 503.80 crore for the second quarter of FY '19.
Revenue for the quarter under discussion was up by 26 per cent at Rs 4,801 crore against Rs 3,798 crore in the same quarter last fiscal, he said.
The company garnered Rs 720 crore towards licence fee for selling the US and select territory rights for two of their neurology brands Symtouch (sumatriptan injection) and Tosymratm (sumatriptan nasal spray) 10 mg and Zembrace to Upsher-Smith Laboratories, he said.
The drug-maker also had an income tax benefit of Rs 326 crore during the quarter.
This is the quarter when we were at the highest of the PAT and revenues. There have been some items which led to that and it includes the sale of our neuro products, Rs 720 crore came up with the sale of PP (proprietary products), he said.
Revenue from the global generics segment was at Rs 3,280 with year-on-year growth of seven per cent, primarily driven by Europe, emerging markets and India.
Revenue from North America was Rs 1,430 crore with a flat growth over last year same quarter while it declined by 13 per cent on account of price erosion and lower volumes.