US price erosion weighs on Dr Reddy's; Q4 net down 3% to Rs 3 billion

There are not many growth triggers for the company, say analysts

Dr Reddy’s Laboratories reported a 3 per cent decline in net profit at Rs 3.02 billion on the back of a marginal decline in revenues for the March quarter (Q4).

The company attributed its subdued financial performance to continued price erosion in the US market besides a decline in sales revenues across other major markets except for India where it registered a 7 per cent revenue growth in Q4. 

The decline in European sales (5 per cent of overall) and emerging markets (16 per cent of overall) pulled down the performance as the numbers came below expectations. Revenues at Rs 35.35 billion