Dr. Reddy’s net surges 29% to ₹995 crore
The Hindu
Dr. Reddy’s Laboratories reported net profit rose 29% to ₹995.8 crore for September quarter on the back of good perfomance in India and emerging markets in the generics business segment, while new of
Dr. Reddy’s Laboratories reported net profit rose 29% to ₹995.8 crore for September quarter on the back of good perfomance in India and emerging markets in the generics business segment, while new offerings helped partially offset the impact of accelerating price erosion in the key North America market.
The increase, compared to the ₹771.8 crore net profit in the year-earlier period, came on an 18% increase in the revenue from operations to ₹5,786.9 crore (₹4,910.9 crore), according to the results. Total income at ₹5,992.4 crore (₹4962.1 crore) was almost 21% higher.
Stating that the improvement in the financial performance across businesses was heartening, co-chairman and MD G.V. Prasad said, “While we continue to strengthen our core businesses of generics and APIs, we are also making investments in our long-term growth drivers and deeper innovation capabilities.”
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