Dr Reddy’s Labs Q2 net dips 22% at Rs86 cr

Dr Reddy’s Labs Q2 net dips 22% at Rs86 cr

Mumbai: Drug maker Dr Reddy’s Laboratories said that its consolidated net profit for the second quarter ended 30 September declined by 21.62% at Rs86.6 crore, over the corresponding period year ago.

Total income rose to Rs1,629.5 crore for the quarter under review, from Rs1,326.5 crore for the same quarter a year-ago, Dr Reddy’s Laboratories said in a filing to the Bombay Stock Exchange (BSE).

On the standalone basis, the domestic drug major reported a net profit of 91 crore for the second quarter ended 30 September, a 27.2% decline from last year’s figures.

The company’s total income rose to Rs955.1 crore for the quarter under review, from Rs924.4 crore for the same period a year ago.

Further, the board of directors of the company approved the amalgamation of Perlecan Pharma, a subsidiary of the company, with itself. This amalgamation would be effective from 1 January, 2006, it added.

Shares of Dr Reddy’s Labs were trading at Rs464, down 3.24% on the BSE.

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