Companies

Dr Reddy’s Laboratories posts Q3 loss at ₹570 crore

PTI New Delhi | Updated on January 27, 2020

Dr Reddy’s Laboratories on Monday reported a consolidated loss of ₹569.7 crore for the quarter ended December 2019.

The company had posted a profit of ₹485.2 crore in the year-ago period, Dr Reddy’s Laboratories said in a BSE filing.

The consolidated revenues of the company in the October-December period increased to ₹4,383.8 crore, over ₹3,850 crore in the year-ago period.

“The current quarter performance has been good across all our businesses and we achieved strong earnings before interest, taxes, depreciation and amortisation (EBITDA) margins,” the company’s Co-Chairman and MD GV Prasad said in a statement.

The profits were impacted due to trigger-based impairment charge taken on a few products including gNuvaring, he said, adding that the company continues to focus on execution and has made significant progress on quality systems and operational efficiencies.

The shares of Dr Reddy’s Laboratories were trading at ₹3,088.40 a piece on BSE, up 1.99 per cent from the previous close.

Published on January 27, 2020

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