3 February 2012 - Indian pharmaceuticals maker Dr Reddy's Laboratories Ltd (BOM:500124; NYSE:RDY) today reported a 127% annual EBITDA growth to INR9.2bn (USD189m/EUR143m) for the third quarter of its fiscal year ending March 2012.

Diluted earnings per share stood at INR30.2 in the third fiscal quarter against INR16.1 in the last three months of 2010.

Revenues gained 46% on the year to INR27.7bn in the three months to December 2011.

The figures, reported under International Financial Reporting Standards (IFRS), showed a 133% rise in generic products revenue in North America to INR11.1bn, driven by the high-value launch of olanzapine 20 mg (the generic version of Eli Lilly's Zyprexa 20 mg) in the US, new products launched in the last twelve months including fondaparinux and antibiotics and strong volume growth across key products such as lansoprazole, tacrolimus, omeprazole Mg OTC and Shreveport.

Revenues from generic products in Russia and other CIS markets increased to INR3.3bn in the third fiscal quarter from INR2.9bn a year earlier. The generics segment generated revenues of INR3.3bn and INR2.4bn in India and Europe, respectively, up from INR3bn and INR2.1bn.

Revenues from the pharmaceutical services and active Ingredients (PSAI) segment advanced to INR5.6bn from INR5bn benefiting from the rupee depreciation and the significant increase in the pharmaceutical services.

For the nine months ended 31 December 2012, EBITDA rose by 59% to INR18.6bn and revenues added 29% to INR70.2bn.

(INR100 = USD2.053/EUR1.558)