DRL posts steady profit increase in Q1

DRL posts steady profit increase in Q1India's second largest drug company, Dr. Reddy's Laboratories (DRL) has said that it has seen a steady growth in profit which grew by 7.5 per cent during the first quarter ending June 30. In money terms it meant that profit has gone up from Rs227 crore to Rs. 244 crore as compared to the last year. This was said in filing submitted to the National Stock Exchange.

However if consolidated profit is taken into account then that reduced from Rs. 244 crore to end at Rs. 210 crore for the period in consideration as compared to the last year. The consolidated revenues were also down and ended at Rs1,683 crore versus Rs1,819 crore.

EPS of the company trailing 12-month was at Rs50.11 per share while the price-to-earnings (P/E) ratio was 27.49. And the latest book value of the firm was Rs350.30 per share.

At the current value, the price-to-book value of the company was 3.93. The dividend yield of the company was 0.82 per cent.

Talking about the financial, managing director and chief operating officer Satish Reddy said the financial are encouraging and that its third bio similar Darbepoetin will be launched very soon.