“Further to our intimation dated November 19, 2024, on the inspection conducted by the United States Food & Drug Administration (USFDA) at our API manufacturing facility (CTO-2) in Bollaram, Hyderabad, we wish to inform you that the Company has received the Establishment Inspection Report
(EIR),” Dr Reddy’s Laboratories said in a regulatory filing.
The US FDA has classified the inspection as Voluntary Action Indicated (VAI) and has marked the inspection as “closed”. A VAI classification from the USFDA means an inspection identified certain issues; however, the FDA will not take immediate action. Instead, the facility is allowed to address and rectify these issues voluntarily.
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Dr Reddy’s Laboratories reported a 2.5% year-on-year (YoY) increase in net profit at ₹1,413.3 crore for the third quarter that ended on December 31, 2024, missing estimates. In the corresponding quarter of the previous fiscal, Dr Reddy’s Laboratories posted a net profit of ₹1,379 crore. The CNBC-TV18 poll had predicted a profit of ₹1,501.4 crore for the quarter under review.
The company’s revenue from operations increased 15.9% to ₹8,358.6 crore against ₹7,215 crore in the year-ago period. The CNBC-TV18 poll had predicted revenue of ₹8,347.85 crore for the quarter under review.
At the operating level, EBITDA was up 8.9% to ₹2,298.2 crore in the third quarter of this fiscal over ₹2,111 crore in Q3 FY24. The CNBC-TV18 poll had predicted an EBITDA of ₹2,343.67 crore for the quarter under review.
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Shares of Dr Reddy’s Laboratories Ltd ended at ₹1,126.55, down by ₹38.20, or 3.28% on the BSE.
First Published: Feb 25, 2025 5:33 PM IST
