CHENNAI: Two pharmaceutical companies – Dr Reddy’s Laboratories Ltd and Cipla Ltd – on Friday said they had logged higher after tax profits for the second quarter of FY24.
In a regulatory filing, the Hyderabad-based Dr.Reddy’s Laboratories said for the quarter ended September 30, 2023, it had booked an operational revenue of Rs 4,838.7 crore (against Q2FY23's Rs 4,880.3 crore) and a net profit of Rs1,192.6 crore (Rs.1,116.3 crore).
The company posted a higher profit as its other income for the quarter went up to Rs 223.1 crore from Rs 118 crore earned during the corresponding period of the previous year.
However, Dr.Reddy’s Laboratories had posted a higher operational revenue of Rs 5,437.3 crore and net profit of Rs 1,639.4 crore during the first quarter of the current fiscal than that of Q2.
On its part Cipla declared Rs 4,664.72 crore as operational revenue for Q2FY24 (Q2FY23 Rs 4,151.27 crore) and a net profit of Rs 1,029.69 crore (Rs 705.19 crore).
For Cipla, the other income for the quarter under review went up to Rs 205.09 crore from Rs 92.28 crore earned during Q2FY23. In the first quarter of FY24, it had logged an operational revenue of Rs 4,318.19 crore and a net profit of Rs 895.02 crore.