Dr. Reddy’s Q2 net dips 32% to ₹913 cr on lower revenue
Dr. Reddy’s Laboratories reported a 32% decline in net profit for the September quarter, falling to ₹913 crore. The drop is primarily attributed to lower revenue in the North American generics market, specifically due to reduced sales of the cancer drug lenalidomide.
Why it matters
As a major Indian multinational pharmaceutical company, its financial performance serves as a key indicator for the health of the global generic drug market and pricing trends in the U.S.
(FOR BUSINESS PAGE) Dr. Reddy’s Q2 net dips 32% to ₹913 cr on lower revenue Revenue from operations for the Hyderabad-based multinational stood at ₹8,697.8 crore, down from ₹8,828.3 crore a year earlier HYDERABAD Generic drugmaker Dr. Reddy’s Laboratories reported September quarter consolidated net profit declined more than 31% to ₹913.2 crore compared to ₹1,336.8 crore a year earlier on lower global generics revenue, particularly a sharp dip in the mainstay North America market. Dr. Reddy’s facility in Andhra Pradesh gets 2 U.S. FDA observations Dr. Reddy’s facility in Andhra Pradesh gets 2 U.S. FDA observations The company will address the observations within the stipulated timeline. Dr. Reddy’s facility in Andhra Pradesh gets 2 U.S. FDA observations storyline 1 Revenue from operations for the Hyderabad-based multinational stood at ₹8,697.8 crore, down from ₹8,828.3 crore a year earlier, according to results prepared under Indian Accounting Standards (Ind AS).
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