Dr Reddy's profit drops 36 pc to Rs 380.4 cr in June qtr

Dr Reddy's Laboratories on Tuesday reported 36 per cent decline in consolidated net profit at Rs 380.4 crore for the quarter ended June 30, 2021, on account of higher expenses.

The pharma major had posted a net profit of Rs 594.6 crore in the corresponding period a year ago.

Total income during June quarter of the current fiscal stood at Rs 5,053 crore, up 12 per cent as against Rs 4,513.6 crore in the year-ago period, Dr Reddy's Laboratories said in a filing to BSE. Total expenses during the period under review were at Rs 4,513.8, up 24.7 per cent as against Rs 3,620.8 crore in first quarter of the previous fiscal.

Shares of Dr Reddy's Laboratories were trading 4.15 per cent lower at Rs 5,184.40 apiece on BSE.

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