Dr Reddy's shares tumble over 10 pc post earnings announcement

Shares of Dr. Reddy's Laboratories on Tuesday tumbled over 10 percent after the company reported a 36 percent decline in consolidated net profit for the quarter ended June 30, 2021.

The company's stock plummeted 10.44 percent to close at Rs 4,844.35 on the BSE.

During the day, it tumbled 11.61 percent to Rs 4,781.

On the NSE, it plunged 10.31 percent to close at Rs 4,853.20.

Dr. Reddy's Laboratories on Tuesday reported a 36 percent 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 the June quarter of the current fiscal stood at Rs 5,053 crore, up 12 percent as against Rs 4,513.6 crore in the year-ago period, Dr. Reddy's Laboratories said in a filing to BSE.

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