Dr Reddy's rallies 4%; market cap touches Rs 1 trillion post Q3 results

With this, Dr Reddy's has become the third listed pharmaceutical company to achieve the Rs 1-trillion m-cap feat

Shares of Dr Reddy's Laboratories hit a record high of Rs 6,077.95 as they rallied 4 per cent on the BSE in Wednesday's intraday trade after it reported an 11 per cent rise in its consolidated net profit at Rs 1,379 crore for the third quarter ended December 2023 (Q3FY24), driven by higher market share in existing products in North America and growth in Europe. 

The pharmaceutical company had posted a net profit of Rs 1,247 crore in the year-ago quarter.

Consolidated revenue grew 7 per cent year-on-year (Y-o-Y) to Rs 7,215 crore from Rs 6,880 crore in Q3FY23. Reported earnings before