During Q4FY25, Dr. Reddy’s revenue stood at INR 85,284 Mn, up 19.9% YoY (+1.8% QoQ), above our estimates by 3.6%, driven by growth across key markets.EBITDA stood at INR 20,747 Mn, up by 14.4% YoY (-8.7% QoQ), below our estimates by 7.0%, led by contraction in gross margins.