Dr Reddy’s Laboratories announced its financial results for the fourth quarter ended March 2016 on Thursday. The company registered 85.62 per cent fall in consolidated net profit figures at Rs 74.60 crore for the quarter under review. It had posted a net profit of Rs 518.80 crore in the same quarter last year.
Bottomline of the company fell on account of Rs 430.90 crore hit taken in its Venezuela operations.
Consolidated net sales of the company slid 2.95 per cent year-on-year (yoy) at Rs 3,756.20 during Jan-March 2016 period. Net sales of the company stood at Rs 3,870.40 crore in the corresponding period last year.
Dr Reddys Laboratories also recommended a final dividend of Rs 20 per equity share.
For the financial year ended March 2016, the company reported net profit of Rs 2,001.30 crore, down 9.76 per cent, against Rs 2,217.90 crore in the same quarter last year. However, net sales of the company grew 4.40 per cent year-on-year to Rs 15,470.80 crore.
Post Q4 results, shares of Dr Reddy’s Labs surged as much as 3.3 per cent to Rs 2,964.80.