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Dr Reddy's Q1 result: Net profit up 2%, revenue hits record ₹8,545 crore
The increase in profit and revenue was attributed to new product launches and price hikes during the quarter.
Sequentially, revenue was flat, with a marginal 0.4 per cent rise, while net profit declined by 11 per cent.
G V Prasad, co-chairman and managing director, DRL, said: 'We delivered double-digit growth this quarter over the same period last year, reflecting our strength in branded markets and positive momentum in the Nicotine Replacement Therapy portfolio.'
Dr Reddy's is planning a major global rollout of semaglutide beginning in 2026, targeting 87 countries—including India, Brazil, Canada, and Turkey—subject to local patent expiries. In countries without active patents, launches will begin earlier. In India and Brazil, where the patent expires in March 2026, the company is targeting Day 1 launches.
Erez Israeli, chief executive officer, DRL, said: 'The semaglutide launch is very important to us. It reflects our focus on business development, resource optimisation, and cost alignment for future growth. While there are execution risks, I'm confident we'll overcome them and continue our growth trajectory. Our pipeline includes 26 peptide-based GLP-1 products, expected to launch over the next decade.'
Despite ongoing litigation with Novo Nordisk in India regarding the validity of the semaglutide patent, Dr Reddy's does not anticipate any delays or disruptions to its commercialisation plans. The company expects significant topline contribution from semaglutide, citing growing global demand for GLP-1 therapies in diabetes and weight management. Priced lower than Novo's offering (₹17,000 per month), Dr Reddy's plans to use its integrated manufacturing to enhance accessibility. Semaglutide is the first of 26 GLP-1 peptide-based drugs the company plans to launch globally over the next decade, with timing based on regional IP clearance.
Dr Reddy's has guided for capital expenditure of approximately ₹2,700 crore in FY26, with major investments toward expanding peptide and biosimilar capacity in line with product-specific requirements.
Segment Performance
Global Generics: Revenue stood at ₹8,060 crore, up 10 per cent Y-o-Y, supported by new launches and stable volumes.
North America: Revenue was ₹3,412 crore, down 11 per cent Y-o-Y due to price erosion in key products like Lenalidomide. The company launched five new products and filed one ANDA with the USFDA. As of June 2025, 73 filings are pending, including 70 ANDAs (43 Para IVs, 22 with potential First-to-File status) and three NDAs.
Europe: Revenue surged 142 per cent Y-o-Y to ₹1,274 crore, driven by the NRT acquisition. The NRT business contributed ₹670 crore. Germany reported ₹320 crore (up 13 per cent), the UK ₹170 crore (up 10 per cent), and the rest of Europe ₹120 crore (up 30 per cent). Growth was led by new launches and forex gains, partly offset by price erosion. Thirteen new products were launched.
Emerging Markets: Revenue rose 18 per cent Y-o-Y to ₹1,404 crore. Russia contributed ₹710 crore (up 28 per cent), the Commonwealth of Independent States and Romania ₹200 crore (up 2 per cent), and the rest of world territories ₹500 crore (up 13 per cent). A total of 26 new products were launched across these regions.
Pharmaceutical Services and Active Ingredients: Revenue rose 7 per cent Y-o-Y to ₹818 crore, supported by new API launches, forex gains, and pharmaceutical services expansion. The company filed 12 Drug Master Files globally during the quarter.
The results were announced post market hours. Dr Reddy's shares rose 0.58 per cent, closing at ₹1,247.50 apiece on the BSE.
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