Dr Reddy's fiscal 2nd-qtr income hits $61M
Indian pharmaceutical company Dr Reddy's Laboratories has reported a rise in its earnings for the quarter ended September 30, 2006. The firm saw income of 2.6 billion rupees ($61.0 million), representing 214% growth on the 890.0 million rupees it earned from its activities in the comparable year-earlier period.
The firm said that the increase in its profit had been driven by its sales performance, which grew 245% to 20.0 billion rupees. The company added that sales in international markets had contributed 17.6 billion rupees, up a massive 391% in the period, with 9.1 billion rupees of this being derived from the success of its products in the USA.
The company also said that revenues from its active pharmaceuticals ingredients business hit 2.9 billion rupees, representing an increase of 36%. On the negative side, the firm's sales in its home territory slipped 13% to 502.0 million rupees.
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