Dr Reddy's 2nd-qtr fiscal 2009 EPS halves

Indian pharmaceutical major Dr Reddy's Laboratories says that its operating profit in the three months ended September 30, 2008, soared 78% year-on-year to 2.0 billion rupees ($43.0 million), as revenues jumped 30% to 16.2 billion rupees. However, earnings per share more than halved to 7.2 rupees.

Earnings before interest, tax, depreciation and amortization increased 25% to 2.7 billion rupees from 2.2 billion rupees, while revenues from the firm's global generics business advanced 40% to 11.2 billion rupees, driven by key markets of North America, Russia and Germany. Income from Dr Reddy's pharmaceutical services and active ingredients unit rose 10% to 4.8 billion rupees.