Dr.Reddy's Lab - Q2FY21 - Angel Broking

Mr. Yash Gupta Equity Research Associate, Angel Broking Ltd

Dr.Reddy's Laboratories ltd revenue from operations for Q2FY21 stood at ₹4,896 crores up by 2% YoY from ₹4,800 crores in Q2FY20. Pharmaceutical Services and Active Ingredients business has done well for the company which is up by 20.6% stood at ₹1026 crores in Q2FY21 from ₹850 crores in Q2FY20 while Proprietary Products down by 98.7% due to one off item in Q2FY20. Gross margins have come down from 57.5% in Q2FY20 to 53.9% in Q2FY21. Profit before tax for the quarter up by 12.5% at ₹862 crores in Q2FY21 as compared to ₹766 crores in Q2FY20. Profit after tax for the quarter down by 30.2% at ₹762 crores in Q2FY21 as compared to ₹1092 crores in Q2FY20 due to tax benefit of ₹326.1 crores in Q2FY20. Company has reported results inline with expectation.

Shares of DR.REDDY'S LABORATORIES LTD. was last trading in BSE at Rs.4949.8 as compared to the previous close of Rs. 5100.3. The total number of shares traded during the day was 151548 in over 12790 trades.

The stock hit an intraday high of Rs. 5148 and intraday low of 4921.5. The net turnover during the day was Rs. 768034167.

Source : Equity Bulls

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