DRIVIN G ROWTH - Dr. Reddy's
DRIVIN G ROWTH - Dr. Reddy's
DRIVIN G ROWTH - Dr. Reddy's
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108<br />
profit and loss account | FOR<br />
THE YEAR ENDED MARCH 31<br />
(All amounts in Indian Rupees thousands, except share data)<br />
Schedule 2002 2001<br />
INCOME<br />
Sales 15,577,800 9,841,063<br />
Income from services 79,615 –<br />
License fees 343,612 –<br />
Other income 14 515,320 174,939<br />
EXPENDITURE<br />
16,516,347 10,016,002<br />
Material costs 15 4,289,612 3,208,276<br />
Conversion charges 62,516 66,268<br />
Excise duty 789,718 713,542<br />
Personnel costs 16 1,005,921 763,981<br />
Operating and other expenses 17 2,925,849 2,242,352<br />
Research and development expenses 980,303 415,441<br />
Amortisation of long term deposits 22,750 22,750<br />
Deferred revenue expenditure written-off 20(3) 931,354 –<br />
Provision for decline in the value of long-term investments 217,424 –<br />
Finance charges 18 108,985 402,764<br />
Depreciation 474,187 753,785<br />
Less: Transferred from general reserve – (328,640) 425,145<br />
11,808,619 8,260,519<br />
PROFIT BEFORE TAXATION 4,707,728 1,755,483<br />
Provision for taxation 19<br />
– Current tax 395,280 310,810<br />
– Deferred tax expense / (benefit) (284,057) –<br />
PROFIT AFTER TAXATION 4,596,505 1,444,673<br />
Provision for income tax pertaining to earlier years – 86,568<br />
Less: Transferred from general reserve – (86,568) –<br />
Balance in profit and loss account brought forward 149,871 6,363<br />
Less: Loss of erstwhile American Remedies Limited for the year ended March 31, 2000 – (114,711)<br />
Add: Transferred from investment allowance reserve – 287<br />
Add: Transferred from debenture redemption reserve 142,494 –<br />
Amount available for appropriations<br />
APPROPRIATIONS<br />
4,888,870 1,336,612<br />
Transfer to debenture redemption reserve – 47,498<br />
Interim dividend paid 382,580 –<br />
Tax on interim dividend 39,023 –<br />
Proposed dividend on equity shares* (subject to deduction of tax) *191,290 126,355<br />
Tax on proposed dividend – 12,888<br />
Transfer to general reserve 3,500,000 1,000,000<br />
Balance carried forward 775,977 149,871<br />
Earnings per share<br />
4,888,870 1,336,612<br />
Basic & diluted – Par value Rs. 5 Per share 20(5) 60.41 22.83<br />
Notes to accounts 20<br />
The schedules referred to above form an integral part of the<br />
Profit and Loss Account.<br />
As per our report attached.<br />
For DR. REDDY’S LABORATORIES LIMITED<br />
For BHARAT S RAUT & CO. DR. K ANJI REDDY Chairman<br />
Chartered Accountants G V PRASAD Executive Vice Chairman & CEO<br />
PRADIP KANAKIA K SATISH REDDY Managing Director & COO<br />
Partner DR. OMKAR GOSWAMI Director<br />
For A RAMACHANDRA RAO & CO. V S VASUDEVAN Chief Financial Officer<br />
Chartered Accountants<br />
A RAMACHANDRA RAO<br />
Partner<br />
Hyderabad<br />
June 4, 2002<br />
SANTOSH KUMAR NAIR Company Secretary<br />
DR. REDDY’S LABORATORIES LTD. | FINANCIALS | ANNUAL REPORT 2001-2002
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