News: Dr. Reddys Q1FY24 revenues grew 29% YoY to Rs 6758 crore, led by higher revenues from North America (up 79% to Rs 3199 crore). Thereby, EBITDA margins expanded 1253 bps to 30.5% and led to 119% growth in absolute EBITDA to Rs 2062 crore. Subsequently, PAT grew 18% to Rs 1405 crore.
Views: The company has net cash surplus of | 4980 crore, which would be utilised in licensing and product acquisition in India and Emerging markets. The growth in US was primarily on account of new product launches 6 in US, 2 in Canada), continued momentum in existing products etc. India revenues declined 14% YoY due to brand divestment, underlying sales grew high single digit led by increased base business volumes.
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