Pharma major Dr Reddy’s Laboratories consolidated net profit increased seven per cent at Rs 361 crore in the first quarter ended June 30 compared with Rs 335 crore in the year-ago period due to growth in global generics sale.
Revenue increased 12 per cent at Rs 2,845 crore (Rs 2,540 crore) primarily driven by 37 per cent growth in generics sale in North American market and depreciation of rupee.
The rupee depreciation boosted revenue and accounted for half of its revenue growth.
The growth during the quarter was modest and lower than the expected levels, Saumen Chakraborty, Chief Financial Officer told newspersons here on Tuesday.
Abhijeet Mukherjee, President – Research, said that preference would be given to forge research and other partnerships globally.
“This year, about 10 filings will be through the partnership route in generics,’’ he said.
Dr Reddy’s scrip lost 1.72 per cent on the BSE Exchange on Tuesday to close at Rs 2,719.40.