Dr Reddy’s Q1 net up 14% buoyed by robust sales

Thursday, 30 July,Hyderabad : Drug major Dr Reddy’s Laboratories today reported a 13.67% rise in its consolidated net profit to Rs 625.65 crore for the quarter ended June 30, on account of robust sales in North America, Europe and India.

The company had posted a net profit of Rs 550.39 crore for the corresponding quarter of the previous fiscal, Dr Reddy’s Laboratories said in a BSE filing.

Consolidated net income from sales and services also rose to Rs 3,757.76 crore for the quarter under review as against Rs 3,517.54 crore for the same period year ago.

Dr Reddy’s Co-Chairman and CEO G V Prasad said: “Our first quarter results, with YoY growth of 7% in top-line and 14% in bottom-line reflects healthy performance.

We were able to achieve these results despite limited new launches and headwinds in forms of currency devaluation in key emerging markets.”

Shares of Dr Reddy’s were trading at Rs 3,886.10 per scrip in the afternoon trade on BSE, up 4.66%.