Dr Reddy’s Q1 net profit down 13% at ₹579 crore

Our Bureau Hyderabad | Updated on July 29, 2020 Published on July 29, 2020

Dr. Reddy's Brand logo.   -  Supplied Pic

Pharma major Dr Reddy’s consolidated net profit during the first quarter ended June 30, 2020 declined 13 per cent at ₹579 crore compared to ₹663 crore in the corresponding quarter of the previous financial year.

The total revenue of the Hyderabad-based company increased 15 per cent at ₹4,417.5 crore as against ₹3,843.5 crore in the same period last year.

“The current quarter’s financial performance has been strong across all parameters. I am glad that we have been able to serve our patients well and ensured continuity of business operations despite the challenging times,’’ GV Prasad, Co-Chairman and Managing Director, Dr Reddy’s, said on Wednesday.

“We have started integration of the acquired business from Wockhardt and executed two important licensing arrangements for treatment options for Covid-19. Currently, we are working towards bringing both these drugs to multiple markets,’’ he added.

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Published on July 29, 2020
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