Dr. Reddy's Lab retracts from record high after strong Q3 earnings

Dr. Reddy's Laboratories lost 0.04% to Rs 2,675.15 at 13:59 IST on BSE after consolidated net profit surged 70.21% to Rs 618.42 crore on 22.95% growth in total income to Rs 3551.49 crore in Q3 December 2013 over Q3 December 2012.

The Q3 result was announced during trading hours today, 11 February 2014.

Meanwhile, the S&P BSE Sensex was up 58.99 points or 0.29% at 20,393.26.

On BSE, so far 33,000 shares were traded in the counter as against average daily volume of 13,506 shares in the past one quarter.

The stock was volatile. The stock rose as much as 0.86% at the day's high of Rs 2,700 so far during the day, which is a record high for the counter. The stock lost as much as 0.95% at the day's low of Rs 2,651.30 so far during the day. The stock hit a 52-week low of Rs 1,720.50 on 1 March 2013.

The stock had outperformed the market over the past one month till 10 February 2014, advancing 1.96% compared with the Sensex's 2.04% fall. The scrip had also outperformed the market in past one quarter, jumping 11.49% as against Sensex's 1.61% fall.

The large-cap company has equity capital of Rs 85.05 crore. Face value per share is Rs 5.

Dr. Reddy's Laboratories is an integrated global pharmaceutical company. Through its three businesses - Pharmaceutical Services and Active Ingredients, Global Generics and Proprietary Products - Dr. Reddy's offers a portfolio of products and services including active pharmaceutical ingredients (APIs), custom pharmaceutical services, generics, biosimilars and differentiated formulations.

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