1. Dr Reddy’s Laboratories Q2 profit falls 17 per cent at Rs 574 cr

Dr Reddy’s Laboratories Q2 profit falls 17 per cent at Rs 574 cr

Dr Reddy's Laboratories, India's second-largest drugmaker by revenue, reported a 17 per cent drop in its second-quarter profit, pushing its shares down nearly 3 per cent.

By: | Mumbai | Published: October 29, 2014 3:31 PM

 

Dr Reddy's Lab, whose formulations include drugs for cardiovascular disorders, oncology and pain management, posts net profit of .6 mn in Q2. (Reuters)

Dr Reddy’s Lab, whose formulations include drugs for cardiovascular disorders, oncology and pain management, posts net profit of .6 mn in Q2. (Reuters)

Dr Reddy’s Laboratories, India’s second-largest drugmaker by revenue, reported a 17 per cent drop in its second-quarter profit, pushing its shares down nearly 3 per cent.

The company, whose formulations include drugs for cardiovascular disorders, oncology and pain management, posted a net profit of 5.74 billion rupees ($93.6 million) compared with 6.90 billion rupees a year earlier.

Dr Reddy’s shares were down 2.5 per cent at Rs 3,004 at 0657 GMT in Mumbai, while the broader market was up 0.4 per cent.

 

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