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Dr Reddys Q4 net profit at Rs.268.9 crores, total income at Rs.1151.06 crores
Posted On : 2007-05-18 09:20:02( TIMEZONE : IST )
Dr Reddys Laboratories Ltd has announced the financial results for the quarter & year ended March 31, 2007. The Unaudited results for the Quarter ended March 31, 2007 are as follows: The Company has posted a net profit of Rs 2689.00 million for the quarter ended March 31, 2007 as compared to net loss Rs 140.00 million for the quarter ended March 31, 2006. Total Income (net of excise) has increased from Rs 5249.80 million for the quarter ended March 31, 2006 to Rs 11510.60 million for the quarter ended March 31, 2007.
The Audited results for the Year ended March 31, 2007 are as follows: The Company has posted a net profit of Rs 11768.60 million for the year ended March 31, 2007 as compared to Rs 2111.30 million for the year ended March 31, 2006. Total Income (net of excise) has increased from Rs 21365.70 million for the year ended March 31, 2006 to Rs 40843.10 million for the year ended March 31, 2007.
The Audited consolidated results for the Year ended March 31, 2007 are as follows: The Group has posted a net profit attributable to the shareholders of the Parent of Rs 9658.90 million for the year ended March 31, 2007 where as the same was at Rs 1467.30 million for the year ended March 31, 2006. Total Income (net of excise) is Rs 66417.60 million for the year ended March 31, 2007 where as the same was at Rs 24832.10 million for the year ended March 31, 2006.
The Unaudited Consolidated results as per US GAAP for the year ended March 31, 2007 are as follows: The Group has posted a net income of Rs 9326.838 million (USD 216.400 million) for the year ended March 31, 2007 where as the same was at Rs 1628.857 million for the year ended March 31, 2006. Revenues is Rs 65095.092 million (USD 1510.327 million) for the year ended March 31, 2007 where as the same was at Rs 24267.047 million for the year ended March 31, 2006.
The figures for the year ended March 31, 2006 consolidated results as per US GAAP are Audited.
- On March 03, 2006, the Company through its step down subsidiary Reddy Holding GmbH acquired 100% of the outstanding common shares of Betapharm Group for a consideration of Rs 26063.30 million. Betapharm is a leading generics pharmaceuticals Company in Germany. The strategic investment in Betapharm is a step towards realizing the Company's intention of building a global generics business in key European markets. The transaction has been accounted for under the purchase method of accounting and the resultant goodwill of Rs 19398.10 million has been recorded in the books.
- On December 30, 2005, the Company acquired 100% of the share capital of Industrias Quimicas Falcon de Mexico, S.A.De.C.V. ( "Falcon"), a Roche group Company for a cash consideration of Rs 2320.246 million. Additionally, the Company has paid Rs 243.424 million for acquisition of customer relationships which has been accounted as an intangible asset. Falcon is primarily engaged in the manufacturing and selling of active pharmaceutical ingredients Naproxen, Naproxen Sodium and steroids.
The Consolidated results of the current year include the results of the acquisitions described above and are therefore not comparable with the previous period.
