Dr. Reddy’s Laboratories has testified quarterly results for the June quarter today i.e. 27/07/2021. Dr. Reddy’s Q1 result reported a decline of 1.5 percent which stood at Rs.570.8 crore as against Rs.579.3 crore for the corresponding quarter in the last year, 2020.
The revenue of the company rises by 11.4 percent from operations which came at Rs.4919.4 crore YOY in Q1FY22. Moreover, beats the street estimations.
The Co-Chairman and Managing Director of the company said that the financial performance of Dr. Reddy’s Q1 was driven by healthy growth in sales. He further shows confidence and said that there would be an improvement in our margins in the forthcoming quarter. Recent launches, productivity, etc will hit sales up thereby improving the financial performance of the company.
The top-notch performance of the company was managed by the European and domestic operations. Consequently, sales climbed 69 percent year on year in the quarter and stood at Rs.1060 crore.
Furthermore, the revenues upsurge 12 percent year on year which came at Rs.399 crore. Thus, an increase in revenue took place due to a gradual variation in the demand and supply chain concerns.
Technical Levels
Dr. Reddy has recently given a sharp reversal.
For now, traders should not look for new buying opportunities.
Positional traders may exit their long hold position if the levels go up and trade around 5050—5150.
Derivative traders may buy put option on the rise
Break and sustain below 4780 may take the levels to 4400—4200.
Fresh buying will be done on a close above 5600