Stocks

Dr Reddy's shares tumble over 10 per cent post earnings announcement

PTI New Delhi | Updated on July 27, 2021

Dr Reddy's reported a 36 per cent decline in consolidated net profit for the quarter ended June 30, 2021

Shares of Dr Reddy's Laboratories on Tuesday tumbled over 10 per cent after the company reported a 36 per cent decline in consolidated net profit for the quarter ended June 30, 2021.

The company's stock plummeted 10.44 per cent to close at ₹4,844.35 on the BSE.

During the day, it tumbled 11.61 per cent to ₹4,781.

On the NSE, it plunged 10.31 per cent to close at ₹4,853.20.

Dr Reddy's Laboratories on Tuesday reported a 36 per cent decline in consolidated net profit at ₹380.4 crore for the quarter ended June 30, 2021, on account of higher expenses.

The pharma major had posted a net profit of ₹594.6 crore in the corresponding period a year ago.

Total income during the June quarter of the current fiscal stood at ₹5,053 crore, up 12 per cent as against ₹4,513.6 crore in the year-ago period, Dr Reddy's Laboratories said in a filing to BSE.

Published on July 27, 2021

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