Pharma major Dr Reddy’s Laboratories has reported a marginal increase of 0.8% in consolidated net profit to R579.2 crore in the December quarter on a year on year basis. This was on account of weak sales in emerging markets like Russia, CIS nations and Romania, which fell by 28%, the company said.
Net income from sales and services, however, rose by 3% to R3,967.9 crore as compared to R3,843.1 crore during the same period of previous fiscal. The domestic market reported a 34% growth to R581 crore in December quarter from R433 crore a year ago.
“Despite multiple challenges we have had a satisfactory quarter in terms of our financial performance. All of our key markets continue to perform well and show healthy growth,” GV Prasad, Dr Reddy’s Laboratories co-vhairman and CEO, said.