Dr Reddys Q1 Sales Up 43 Per Cent

Dr Reddys Laboratories announced yesterday that its first quarter sales for 1997/98 (April-March) rose 42.95 per cent to Rs 85.23 crore from Rs 59.62 crore in the corresponding period of the previous year.

The firm said sales of pharmaceutical formulations amounted to Rs 50.96 crore, bulk chemicals contributed Rs 32.6 crore, diagnostic products Rs 1.57 crore, and other products made up for the balance.

Exports of formulations rose 98 per cent to Rs 12.54 crore as compared with the previous year, the firm said. Bulk drug exports rose 112 per cent to Rs 12.69 crore from Rs 5.99 crore million in the same period of the earlier year. The company has opened a representative office in Vietnam and has entered into a marketing tie-up in Brazil during the first quarter of 1997/98, the statement added.