Dr Reddy's Q1 revenue up 21 per cent at Rs1,818 crore; eyes Rs15,000 crore turnover by 2012-13
23 Jul 2009
Dr Reddy's Laboratories Ltd today reported a 21 per cent rise in its first quarter 2009-10 (April-June) revenue at Rs1,818 crore against Rs1,500 crore in the same quarter of the previous year.
The Hyderabad-based pharma company is targeting a turnover of around Rs15,000 crore by 2012-13, a more than double its fiscal 2008 revenue of Rs6,900 crore.
"Our financial year 2013 guidance is $3 billion (about Rs14,500 crore) in revenues with a 25 per cent ROCE (return on capital employed)," Dr Reddy's vice-chairman and CEO G V Prasad said while speaking at the company's 25th annual general meeting.
He said that against a target of 10 per cent rise in revenues for the 2009-10 fiscal, the company clocked 21 per cent jump in topline for the first quarter of the current fiscal.
The company, he said, also aimed to build proprietary products business and "delivering patient-focused solutions" in the current year.
Announcing unaudited financial results for the first quarter ended 30 June 2009 under International Financial Reporting Standards (IFRS), Dr Reddy's said the growth was largely driven by sumatriptan and by the key markets of North America and India.
