28 Jan , 2022 By : monika singh
NEW DELHI: Dr Reddy's Laboratories (DRL) is likely to report a 25 per cent year-on-year (YoY) rise in net profit at Rs 710 crore, as per an ET NOW poll of analysts. The drugmaker had reported a profit of Rs 568 crore in the corresponding quarter last year.
Sales are seen rising 10.6 per cent YoY to Rs 5,450 crore compared with Rs 4,929 crore in the same quarter last year.
Ebitda for the quarter is seen at Rs 1,160 crore while the margin is likely at 21.5 per cent.
Analysts expect lower US and Covid-19 related sales, which may lead to lower Ebitda sequentially. They are pencilling in a $9-10 million fall in US sales sequentially to $246 million.
Edelweiss sess profit rising 26.5 per cent YoY to Rs 780 crore. It sees sales rising 12.2 per cent YoY to Rs 5,531 crore. The brokerage sees Ebitda margin falling 14 basis points YoY to 22.7 per cent, with input cost headwinds partly compensated by plateauing SG&A investments.
"North America revenue is seen at $248 million, 5 per cent growth YoY but 2 per cent decline QoQ on account of rapid price erosion in gRevlimid in Canada, limited new launches and a modest increase in market share in gCiprodex, gVascepa that will be set off against price erosion. India business remains solid and we forecast 14 per cent YoY growth despite Remdesivir in base," Edelweiss said.
The brokerage expects EM performance to moderate from September quarter highs but see 8 per cent YoY growth.
ICICIdirect sees DRL's revenues growing 8.1 per cent YoY to Rs 5,341.9 crore mainly due to a 9 per cent YoY growth in domestic formulations at Rs 1,045.4 crore. "US business is expected to grow 8.7 per cent YoY to Rs 1891.4 core. Ebitda margins are likely to increase 1,166 bps YoY to 22.6 per cent on account of Rs 597.2 crore of impairment expense in the base of Q3FY21. Ebitda is expected to increase 123.6 per cent YoY to Rs 1205.9 crore. Adjusted PAT may grow 20.8 per cent YoY to Rs 844.3 crore," the brokerage said.
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