Dr Reddy’s Laboratories on October 27 announced its quarterly report for the July-September quarter.

The company reported its highest-ever consolidated net profit at Rs 1,480 Crore for the quarter under review, which is a 33% year-on-year (YoY) increase from Rs 1,112.80 crore reported in the year-ago quarter.

The revenue of the company saw a 9% YoY increase to Rs 6,880.20 crore for Q2 against Rs 6,305.70 crore reported in the same quarter of the previous fiscal year. The strong earnings during the quarter were supported by a 26% sales growth in Europe and 13% in the US, which offset the marginal gains in the domestic market.

The company’s EBITDA (earnings before interest, taxes, depreciation and amortisation) also increased by 12.9% YoY to Rs 2,181 crore compared to Rs 1,932.2 crore reported in Q2FY23. The EBITDA margins also expanded to 31.7% in the quarter under review.

G V Prasad, Co-Chairman & MD of Dr Reddy’s, said, “We delivered another quarter of strong results with highest ever sales and profits, driven by market share gains & momentum in our US generics business and robust growth in Europe.”

He added that the company is continuing to strengthen its pipeline both organically and through business development to drive growth and create a difference.