Dr Reddys Lab drops after Q4 earnings

Dr Reddy's Laboratories lost 2.16% to Rs 2,036 at 14:08 IST on BSE after consolidated net profit surged 66.58% to Rs 570.89 crore on 30.79% growth in total income to Rs 3503.04 crore in Q4 March 2013 over Q4 March 2012.

The company announced Q4 results during trading hours today, 14 May 2013.

Meanwhile, the S&P BSE Sensex was up 60.70 points or 0.31% at 19,752.37.

On BSE, 1.05 lakh shares were traded in the counter as against average daily volume of 15,375 shares in the past one quarter.

The stock hit a high of Rs 2,119.90 and a low of Rs 2,025 so far during the day. The stock had hit a record high of Rs 2,150.90 on Monday, 13 May 2013. The stock had hit a 52-week low of Rs 1,528 on 19 June 2012.

The stock outperformed the market over the past one month till 13 May 2013, surging 9.43% compared with the Sensex's 7.94% rally. The scrip had also outperformed the market in past one quarter, jumping 9.2% as against Sensex's 0.43% rise.

The large-cap company has equity capital of Rs 84.91 crore. Face value per share is Rs 5.

Dr Reddy's Laboratories' consolidated net profit rose 17.62% to Rs 1677.62 crore on 21.78% growth in total income to Rs 11874.46 crore in the year ended 31 March 2013 (FY 2013) over the year ended 31 March 2012 (FY 2012).

Dr Reddys Laboratories' board of directors at a meeting held today, 14 May 2013, recommended final dividend of Rs 15 per share for FY 2013.

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 APIs, custom pharmaceutical services, generics, biosimilars, differentiated formulations and NCEs. Therapeutic focus is on gastro-intestinal, cardiovascular, diabetology, oncology, pain management, anti-infective and pediatrics. Major markets include India, USA, Russia and CIS, Germany, UK, Venezuela, S. Africa, Romania, and New Zealand.

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