Dr Reddy’s Q1 profit falls 13 pc to Rs 579 cr

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Dr Reddy, India's second largest pharmaceutical company is trading 3.82% up at 3,213.25. HUL : India's largest FMCG company is trading at 2,170.60.
Dr Reddy, India's second largest pharmaceutical company is trading 3.82% up at 3,213.25.


New Delhi, July 29 (PTI)
 Dr Reddy’s Laboratories on Wednesday reported 12.59 per cent decline in consolidated net profit at Rs 579.3 crore for the quarter ended June 30, 2020.

The pharma major had posted a net profit of Rs 662.8 crore for April-June 2019-20, Dr Reddy’s Laboratories said in a filing to BSE.

Revenue during June quarter 2020-21 stood at Rs 4,417.5 crore. It was Rs 3,843.5 crore in the year-ago period, it added.

The first quarter of 2019-20 included a settlement income of Rs 346 crore, the company said.

“The current quarter’s financial performance has been strong across all parameters. I am glad that we have been able to serve our patients well and ensured continuity of business operations despite the challenging times,” Dr Reddy’s Laboratories Co-chairman & MD, G V Prasad said.

“We have started integration of the acquired business from Wockhardt and executed two important licensing arrangements for treatment options for COVID-19. Currently, we are working towards bringing both these drugs to multiple markets,” he added.

Shares of Dr Reddy’s Laboratories were trading at Rs 4,176.15per scrip on BSE, up 3.10 per cent from its previous close.

Source:PTI

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