Despite revenue growth, Dr Reddy's Q4 PAT down 76% at Rs 87.5 cr

Hyderabad: Dr Reddy's Laboratories Ltd on Thursday said its consolidated profit after tax (PAT) for the quarter ended March 31 was down by 76 per cent to Rs 87.5 crore against Rs 362.4 crore in the same quarter a year ago.

Revenue during the quarter under discussion was up by 15 per cent to Rs 5,436.8 crore compared with Rs 4,728.4 crore in the last quarter of FY '21, Dr Reddy's senior management told reporters.

GV Prasad, co-chairman and managing director of Dr Reddy's, said the drug-maker clocked nearly USD one billion revenue from the North American markets.

Though there was a healthy growth in revenue, profits were affected by impairment charges. The bottomline was hit by impairment charges mostly by product impairment of PPC-06 (Tepilamide Fumarate Extended Release Tablets) of Rs 430 crore on account of its decrease in market potential and impairment of Shreveport plant assets and Goodwill of Rs 310 crore which were taken considering the triggers which occurred during the year.