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Friday, October 23, 1998

Dr Reddy's net up 19% to Rs 17 crore 

Our Infrastructure Bureau  
Mumbai, Oct 22: Dr Reddy's Laboratories has registered a 19 per cent increase in net profit for the second quarter of the current fiscal at Rs 16.85 crore as against Rs 14.16 crore in the corresponding period last year.

The company achieved a bottomline growth of 43 per cent for the first six months of the current fiscal. Total income in the first half at Rs 224.42 crore rose 30 per cent over the previous year and this includes the second quarter earnings of Rs 109.71 crore. The company has also made a provision of Rs 5.45 crore for depreciation including amortisation of brand-acquisition cost. This includes a second quarter provision of Rs 2.87 crore.

INSIGHT
On the rise

There has been an expectation of a good performance from Dr Reddy's Laboratories from the market. In the last six weeks the stock has appreciated by 15 per cent from Rs 405 to Rs 460. In the last few months too the stock has comfortably outperformed the market as a whole. And a similar sentiment has been echoed forCheminor Drugs, a sister concern. The stock has been in an uptrend since the last two years and is still very much in an uptrend, despite some short-term blips.

Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.


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