Dr Reddys Laboratories Q1 net up 52.49% at Rs 550.39 crore

Pharma major Dr Reddys Laboratories today reported 52.49 per cent jump in net profit at Rs 550.39 crore for the quarter ended June 30, 2014.
It had posted a net profit of Rs 360.93 crore for the April-June quarter of the 2013-14 fiscal, Dr Reddy's said in a filing to the BSE.
Net sales of the company in Q1, 2014-15, rose to Rs 3,517.54 crore, up 23.64 per cent from Rs 2,844.92 crore in the year-ago period.
The company said selling, general and administrative expenses rose to Rs 1,067.89 crore in the quarter under review from Rs 879.36 crore in the year-ago period.

The research and development expenses also rose to Rs 387.53 crore for the quarter, from Rs 242.97 crore in Q1, 2013-14.
Shares of Dr Reddy's were trading at Rs 2,824.90 apiece on the afternoon trade, up 2.10 per cent from its previous close on the BSE.