Dr Reddy’s Laboratories has dipped 4% to Rs 2,612, in otherwise firm market, after reporting a lower than 15.6% year on year (yoy) drop in consolidated net profit at Rs 482 crore for the quarter ended March 31, 2014 (Q4FY14), mainly due to higher operating expenses. The pharmaceutical company had profit of Rs 571 crore in the same quarter last year.
Total revenues grew marginally 4% yoy at Rs 3,481 crore against Rs 3,340 crore during the corresponding quarter of previous fiscal.
Analyst on an average had expected profit of Rs 584 crore on revenues of Rs 3,630 crore.
EBITDA (earnings before interest, taxes, depreciation, and amortization) margin declined to 22.81% from 27.82% in previous year quarter.
The stock opened at Rs 2,743 and hit a low of Rs 2,610 on the NSE. A combined 892,000 shares changed hands on the counter so far on the NSE and BSE.
Total revenues grew marginally 4% yoy at Rs 3,481 crore against Rs 3,340 crore during the corresponding quarter of previous fiscal.
Analyst on an average had expected profit of Rs 584 crore on revenues of Rs 3,630 crore.
EBITDA (earnings before interest, taxes, depreciation, and amortization) margin declined to 22.81% from 27.82% in previous year quarter.
The stock opened at Rs 2,743 and hit a low of Rs 2,610 on the NSE. A combined 892,000 shares changed hands on the counter so far on the NSE and BSE.
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