DRIVIN G ROWTH - Dr. Reddy's
DRIVIN G ROWTH - Dr. Reddy's
DRIVIN G ROWTH - Dr. Reddy's
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222<br />
statements of operations and accumulated deficit |<br />
FOR THE YEAR ENDED MARCH 31<br />
(US $)<br />
2002 2001<br />
Sales 125,646,903 36,875,061<br />
Cost of sales 111,289,914 31,800,726<br />
Gross profit 14,356,989 5,074,335<br />
Other income (loss) 25,630 (120,125)<br />
Total 14,382,619 4,954,210<br />
Selling, general and administrative expenses 12,963,207 5,431,598<br />
Interest expense 189,073 229,511<br />
Income (loss) before income tax (expense) benefit<br />
Income tax (expense) benefit<br />
1,230,339 (706,899)<br />
Current expense (488,000) –<br />
Deferred benefit 103,000 280,000<br />
Net income (loss) before cumulative effect of<br />
(385,000) 280,000<br />
a change in accounting principle 845,339 (426,899)<br />
Cumulative effect of a change in accounting principle – (3,714,614)<br />
Net income (loss) 845,339 (4,141,513)<br />
Accumulated deficit, beginning (5,531,832) (1,390,319)<br />
Accumulated deficit, end (4,686,493) (5,531,832)<br />
The accompanying notes are an integral part of these financial statements.<br />
DR. REDDY’S LABORATORIES, INC. | FINANCIALS | ANNUAL REPORT 2001-2002
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