Dr Reddy's down 11% as Q3 disappoints
Shares of Dr Reddy's Laboratories were down 10.79 per cent at Rs 540.05 on BSE as the market opened Monday.
By INDIATIMES NEWS NETWORK |
MUMBAI: Shares of Dr Reddy's Laboratories were down 10.79 per cent at Rs 540.05 on BSE as the market opened Monday. The fall can be attributed to the over 91 per cent decline in net profit for the quarter ended Dec 31, 2007. The decline is also in line with the broad market weakness.
The pharma major reported a net profit of Rs 42.29 crore for the quarter ended Dec 31, 2007, against Rs 503.40 crore in the same quarter of previous year. Total income decreased 32.29 per cent to Rs 820.68 crore from Rs 121.21 crore in the quarter ended Dec 2006.
On a consolidated basis, the group posted a net profit of Rs 62.55 crore for the Oct-Dec quarter of 2007, down 91.6 per cent compared with Rs 105.63 crore in the year earlier quarter. Total income decreased 17 per cent to Rs 1,265.98 crore from Rs 1,521.48 crore in the same quarter of 2006.
As per US GAAP, the group posted a net loss of Rs 84.66 crore for the quarter ended Dec 31, 2007 against a net profit of Rs 187.94 crore last year.
On Friday, the stock had closed higher by 6.73 per cent at Rs 605.40 on Friday, as the earnings came post market hours.
The pharma major reported a net profit of Rs 42.29 crore for the quarter ended Dec 31, 2007, against Rs 503.40 crore in the same quarter of previous year. Total income decreased 32.29 per cent to Rs 820.68 crore from Rs 121.21 crore in the quarter ended Dec 2006.
On a consolidated basis, the group posted a net profit of Rs 62.55 crore for the Oct-Dec quarter of 2007, down 91.6 per cent compared with Rs 105.63 crore in the year earlier quarter. Total income decreased 17 per cent to Rs 1,265.98 crore from Rs 1,521.48 crore in the same quarter of 2006.
As per US GAAP, the group posted a net loss of Rs 84.66 crore for the quarter ended Dec 31, 2007 against a net profit of Rs 187.94 crore last year.
On Friday, the stock had closed higher by 6.73 per cent at Rs 605.40 on Friday, as the earnings came post market hours.
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