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Dr Reddy's Laboratories' (DRL's) share price plunged 6.66 per cent to ₹1,203.50 apiece, its intraday low, on the NSE on Friday as analysts differed on the company's growth outlook after its December quarter (Q3) results.
DRL's Q3 performance was viewed as subdued by some analysts when they adjusted it for one-time grants and incomes that the company received during the quarter.
Adjusted for these items, revenue, earnings before interest, taxes, depreciation and ammortisation (Ebitda) and profit after tax (PAT) missed consensus estimates by 3 per cent, 5 per cent and 10 per cent respectively, analysts at Nuvama Institutional Equities said in a report.
Dr Reddy's Lab reported a government grant of ₹80 crore and a one-time payment income of ₹130 crore from DFD29 drug, offsetting the impact of a 41 per cent year-on year (Y-o-Y) fall in other income due to foreign exchange loss.
The company's revenue gained from consolidation of the vaccine business in India and nicotine replacement therapy (NRT) business in Europe.
However, US sales were flat due to market share loss in its star performer Revlimid, a cancer drug, and high competition in legacy products such as Suboxone, Vascepa and Ciprodex.
Diese Geschichte stammt aus der January 25, 2025-Ausgabe von Business Standard.
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Diese Geschichte stammt aus der January 25, 2025-Ausgabe von Business Standard.
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