Dr. Reddy's fourth-quarter profit falls 3 percent, misses estimates

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Reuters
Last Updated : May 22 2018 | 1:35 PM IST

(Reuters) - Indian generic drugmaker Dr. Reddy's Laboratories Ltd posted an about 3 percent fall in quarterly profit, missing estimates, hurt by headwinds in the U.S. market.

Profit for the quarter ended March 31 came in at 3.02 billion rupees ($44.40 million) versus 3.13 billion rupees a year earlier, the company said https://www.bseindia.com/xml-data/corpfiling/AttachLive/280bdd33-dda4-4c5f-8624-b01b7efaeb68.pdf.

Analysts on average estimated a profit of 3.59 billion rupees, according to Thomson Reuters data.

Revenue fell slightly to 35.35 billion rupees.

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($1 = 68.0175 Indian rupees)

(Reporting By Arnab Paul in Bengaluru; Editing by Biju Dwarakanath)

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First Published: May 22 2018 | 1:25 PM IST

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