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Shares of Dr Reddy’s Laboratories today fell over 2 per cent as the company posted a 38.51 per cent decline in consolidated net profit for the third quarter ended December 31, 2017.
The stock dipped 2.26 per cent to end at Rs 2,504 on the BSE. During the day, it lost 4 per cent to Rs 2,458.95. On the NSE, shares of the company fell 2 per cent to close at Rs 2,507.75.
Dr Reddy’s Laboratories has posted a 38.51 per cent decline in consolidated net profit at Rs 302.7 crore for the third quarter ended December 31, 2017. The company had posted a net profit of Rs 492.3 crore during the same period of the previous fiscal.
Its total revenue from operations stood at Rs 3,834.1 crore during the quarter under review against Rs 3,723.2 crore during the third quarter of 2016-17, Dr Reddy’s Labs said in a regulatory filing.
The company said total revenue from operations for the quarter was not comparable consequent to the introduction of Goods and Services Tax on July 1.
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