Revenues from global generics in the quarter under review were up seven per cent to Rs 3,281.6 crore from Rs 3053.6 crore a year ago, while those from the pharmaceutical services and active ingredients (PSAI) division rose 18 per cent to Rs 710.7 crore from Rs 602.9 crore in the corresponding previous quarter.
Sales from the proprietary products division rose nearly five fold to Rs 808.6 crore, from Rs 141.3 crore in the year-ago quarter on account of a Rs 722.9 crore license fee that the company has received on the sale of its Sumatriptan injection and nasal spray to Upsher-Smith Laboratories.
Dr Reddy's said price erosion and lower volumes, besides the impact of voluntary recall of ranitidine and temporary disruption in supplies due to logistics issues have resulted in a flattish growth in formulations revenues (Rs 1,426.5 crore) in the US, despite the launch of eight products during the quarter.
The overall growth in the global generics business was led by India and Emerging Markets, which grew by 9 per cent and 10 per cent, tp Rs 751.1 crore and Rs 827.6 crore, respectively, during the quarter under review.
The company's gross profit margin was up 250 basis points at 57.5 per cent, from 55 per cent a year ago. However, adjusted for one-offs, normalised gross profit margin stood at 51.5 per cent, according to the company.