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Actionable news in RDY: DR REDDY'S LABORATORIES LIMITED AMERICAN DEPOSITARY SHARES,

Dr. Reddy's Laboratories: Dr. ReddyS Laboratories Ltd INVESTOR RELATIONS MEDIA RELATIONS

The following excerpt is from the company's SEC filing.

Hyderabad - 500034. Telangana, India.

KEDAR UPADHYE

kedaru@drreddys.com

(Ph: +91-40-66834297)

CALVIN PRINTER

calvinprinter@drreddys.com

(Ph: +91-40- 49002121)

Dr. Reddys Q2 and H1 FY16 Financial Results

Highest ever Quarterly sales and EBITDA performance

Q2 Revenues at

39.9 billion

(YoY growth of 11%)

Q2 EBITDA at

11.4 billion

(28.6% of the revenues)

H1 Revenues at

77.5 billion

(YoY growth of 9%)

H1 EBITDA at

21.3 billi on

(27.5% of the revenues)

Hyderabad, India, October 29, 2015:

Dr. Reddys Laboratories Ltd. (NYSE: RDY | BSE: 500124 | NSE: DRREDDY) today announced its consolidated financial results for the quarter ended September 30, 2015 under International Financial Reporting Standards (IFRS).

Q2 FY16: Key Highlights

Consolidated revenues at

39.9 billion, year-on-year growth of 11%. In constant currency terms the revenue growth is 14%

Gross Profit Margin at 61.3%, improved by 285 bps over last year

Research & Development (R&D) spend at

4.5 billion. Continued focus on building complex generics and differentiated products pipeline

Selling, general & administrative (SG&A) expenses at

11.1 billion. Marginal year-on-year increase. Year-on-year drop seen by ~200bps in percentage to sales

11.4 billion, 28.6% of revenues, strong year-on-year growth of 31%

Profit after tax at

7.2 billion, strong year-on-year growth of 26%. Diluted EPS at

42.2

Commenting on the results, Dr. Reddys co-chairman and CEO, GV Prasad said, I am pleased with our performance for this quarter. We had robust sales growth across our markets of US, India and Europe, supported by new products that were launched in the last twelve months. Our investment in R&D remains at 11%, as we continue on our strategy of building an exciting pipeline of assets across our businesses. While satisfied with our performance, we are intensely focused on enhancing our quality management system and infrastructure to meet evolving global requirements and address the pending cGMP related matters at some of our facilities.

All amounts in millions, except EPS

All US dollar amounts based on convenience translation rate of I USD =

65.50

Dr. Reddys Laboratories Limited and Subsidiaries

Consolidated Income Statement

Particulars

Q2 FY 16

Q2 FY 15

Growth

39,890

35,879

Cost of revenues

15,421

14,893

Gross profit

24,469

20,986

Operating Expenses

Selling, general & administrative expenses

11,058

10,673

Research and development expenses

Other operating expense / (income)

Results from operating activities

Finance expense / (income), net

Share of profit of equity accounted investees, net of income tax

Profit before income tax

Income tax expense

Profit for the period

EBITDA Computation

Profit before tax

Interest (income) / expense net*

Depreciation

Amortization

11,392

EBITDA (% to sales)

Includes dividend and profit on sale of investments

All US dollar amounts based on convenience translation rate of I USD =

Key Balance Sheet Items

As on 30

Sep 15

Jun 15

Cash and cash equivalents and Other current Investments

34,050

35,117

Trade receivables

42,840

42,030

Inventories

27,147

26,149

Property, plant and equipment

51,055

49,386

Goodwill and Other Intangible assets

24,155

24,106

Loans and borrowings (current & non-current)

37,072

41,400

Trade...


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