Dr Reddy’s reports higher sales but downturn in pretax profit

29 October 2014

Indian generics drugmaker Dr Reddy’s Laboratories (NYSE: RDY) today reported its unaudited consolidated financial results for the quarter ended September 30, 2014, showing that revenues grew 7% to 35.88 billion rupees ($579 million).

Gross profit for the quarter rose 8% to 20.97 billion rupees, but pretax profit fell 10% to 6.94 billion rupees, or diluted earnings per share of 33.60 rupees, a drop of 17%. Dr Reddy’s shares dipped 1.1% to 3,046.35 rupees by late afternoon today.

Global generics

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