Dr Reddy's Reports Nine Percent Dip in Quarterly Profit Amid Rising Revenues

Dr Reddy’s Laboratories Ltd has reported a nine percent decline in its quarterly profit, amounting to Rs 1,342 crore before non-controlling interest. Despite this dip, consolidated revenues rose by 17 percent to Rs 8,016 crore. The company is focused on growth through its partnership with Nestlé and recent acquisitions.

Dr Reddy's Laboratories Ltd reported a nine percent decrease in consolidated profit after tax for the quarter ending September 30, reaching Rs 1,342 crore before non-controlling interest. This marks a decline from the Rs 1,480 crore profit after tax in the second quarter of FY24.

Despite the drop in profits, the company's consolidated revenues rose by 17 percent, totaling Rs 8,016 crore compared to Rs 6,880 crore in the previous quarter of FY24, according to a statement released by the company.

Co-chairman and managing director highlighted the company's ongoing success, noting, "We made progress on our future growth drivers, operationalised our venture with Nestlé, and completed the acquisition of Nicotinell and related brands. We will continue to drive efficiency, strengthen our core businesses, and positively impact patient lives through science and innovation."

(With inputs from agencies.)