Dr Reddy's Laboratories Shares Plummet Despite Profit Growth

Dr Reddy's Laboratories experienced a significant share price drop of nearly 7% following its third quarter earnings report. Despite a slight profit increase to Rs 1,413 crore and revenue growth, the company's performance—centered in Hyderabad—failed to meet investor expectations, resulting in market declines.

Shares of Dr Reddy's Laboratories fell sharply by nearly 7% on Friday as investors reacted negatively to the company's third-quarter financial performance.

The stock sank 6.65% on the BSE to Rs 1,203.60, and similarly dropped 6.66% on the NSE, closing at Rs 1,203.50.

Despite reporting a modest profit increase of 2% to Rs 1,413 crore for the third quarter ended December 31, 2024, Dr Reddy's Laboratories failed to impress the market. This slight uptick followed revenue growth from Rs 7,215 crore to Rs 8,359 crore for the same period.

(With inputs from agencies.)