Dr Reddy’s achieves quarterly earnings growth of over 50%

Indian pharmaceutical company Dr Reddy’s Laboratories (NYSE: RDY) has announced quarterly sales of 35.2 billion rupees ($586 million). This represents a year-on-year growth of 24% from the same period in 2013.

It achieved earnings before interest, taxes, depreciation and amortization (EBITDA) of 8.9 billion rupees, with its profit after tax standing at 5.5 billion rupees. Diluted earnings per share for the company were 32.42 rupees.The net profit of 5.5 billion stands slightly above the estimates from the Economic Times of India, which were 5.25 billion.

In terms of different sales areas, Dr Reddy’s global generics business generated 29 billion rupees, constituting a growth of 32%, while its pharmaceutical services and active ingredients arm generated 5.5 billion rupees in sales, a decline of 6%.