Dr Reddy’s Laboratories on Friday reported 29 per cent decline in consolidated web profit at Rs 557 crore for the fourth quarter ended March 31, 2021. The Hyderabad-based drug main had posted a web profit of Rs 781 crore in January-March interval of 2019-20.
Net gross sales nevertheless rose to Rs 4,608 crore within the quarter underneath evaluate as in contrast with Rs 4,336.1 crore within the fourth quarter of 2019-20, Dr Reddy’s Laboratories mentioned in a regulatory submitting.
For 2020-21 fiscal 12 months, the corporate posted a consolidated web profit of Rs 1,952 crore as in opposition to Rs 2,026 crore in 2019-20.
Net gross sales elevated to Rs 18,420 crore over the past fiscal 12 months as in contrast with Rs 16,357 crore in 2019-20.
“In FY 21, we continued to develop throughout all our companies, improve productiveness and strengthen our growth pipeline,” Dr Reddy’s Laboratories Co-Chairman and MD G V Prasad mentioned.
The firm is prioritising its efforts to launch Sputnik V vaccine throughout India whereas engaged on the event and commercialisation of a number of medication for the remedy of delicate to extreme COVID 19 infections, he added.
The drug maker mentioned it has commenced an in depth investigation into an nameless criticism which alleges that healthcare professionals in Ukraine and probably in different international locations had been supplied with improper funds by or on behalf of the corporate in violation of US anti-corruption legal guidelines.
A authorized agency is conducting the investigation at the instruction of a committee of the corporate’s board, it added.
Dr Reddy’s famous that it has disclosed the matter to the US Department of Justice, Securities and Exchange Commission and Securities Exchange Board of India.
“While the matter might end in authorities enforcement actions in opposition to the corporate within the United States and/or international jurisdictions, which may result in civil and felony sanctions underneath related legal guidelines, the likelihood of such motion and the end result aren’t fairly ascertainable at this time,” it added.
The firm mentioned its board has advisable a remaining dividend of Rs 25 per share of Rs 5 face worth (500 per cent) for monetary 12 months 2020-21. Dr Reddy’s shares had been buying and selling barely up at Rs 5,308 apiece on the BSE.
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