Dr Reddy's Q2 net profit up 76.83% to Rs 5 billion on robust sales

Drug major Dr Reddy's Laboratories Friday reported a 76.83 per cent jump in its consolidated net profit at Rs 5.038 billion for the quarter ended September 30, 2018 on robust sales.

The company had posted a net profit of Rs 2.849 billion in the corresponding period of the previous fiscal, Dr Reddy's Laboratories said in a filing to BSE.

Consolidated revenue of the company stood at Rs 37.978 billion for the quarter under consideration. It was Rs 35.46 billion for the same period year ago.

Commenting on the results, Dr Reddy's Co-chairman & CEO, G V Prasad said: "I am encouraged with our performance and progress in the second quarter. Our continuous focus on execution, operational efficiency and cost optimisation are showing results."

Looking ahead, the company's priority will be to resolve pending regulatory issues, and continue to work on execution and cost structures that will enable affordable medicines for more patients, he added.

Shares of Dr Reddy's Laboratories were today trading at Rs 2,410.10 per scrip on BSE, up 0.66 per cent from its previous close.