Dr Reddy's shares gain over 5%; m-cap rises by Rs 2,158 cr post Q2 earnings

Shares of Dr Reddy's Laboratories Monday surged over 5 per cent after the company reported a 76.83 per cent jump in its consolidated net profit for the quarter ended September 30, 2018.

The stock gained 5.44 per cent to close at Rs 2,534.75 on BSE. During the day, it jumped 6.43 per cent to Rs 2,558.55.

On NSE, shares of the company soared 5.28 per cent to end at Rs 2,531.65.

Led by the gain in the stock price, the company's market valuation rose by Rs 2,157.95 crore to Rs 42,072.95 crore on BSE.

In terms of equity volume, 1.80 lakh shares of the company were traded on BSE and over 10 lakh shares changed hands on NSE during the day.

Drug major Dr Reddy's Laboratories Friday reported a 76.83 per cent jump in its consolidated net profit at Rs 503.8 crore for the quarter ended September 30, 2018 on robust sales.

The company had posted a net profit of Rs 284.9 crore 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 3,797.8 crore for the quarter under consideration. It was Rs 3,546 crore for the same period year ago.