Dr. Reddy's Laboratories Q4 profit up 25 pct, lags estimates

May 13 2014, 15:45 IST
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Dr. Reddy's, a leading player in India's $14 billion generic drugs industry, posted revenue of 25.32 billion rupees. (Reuters) Dr. Reddy's, a leading player in India's $14 billion generic drugs industry, posted revenue of 25.32 billion rupees. (Reuters)
SummaryDr. Reddy's Laboratories Ltd fell short of analysts' estimates due to rise in expenses.

Dr. Reddy's Laboratories Ltd , India's second-largest drugmaker by sales, on Tuesday posted a 25 percent rise in quarterly net profit, but fell short of analysts' estimates due to a rise in expenses.

Dr Reddy's Laboratories' net profit for the January-March quarter was 4.71 billion rupees ($78.68 million), compared with 3.78 billion rupees in the same period a year ago. Analysts on average expected a profit of 6.1 billion rupees, according to data.

Dr. Reddy's, a leading player in India's $14 billion generic drugs industry, posted revenue of 25.32 billion rupees, up 17 percent from the prior year.

Shares in the Hyderabad-based company, valued at nearly $8 billion, fell 3 percent to 2,650 rupees on Tuesday after the earnings, while the main Mumbai market was up 2 percent.

($1 = 59.8650 Indian Rupees)

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