Dr Reddy's Lab bounces back after reporting Q2 results

Dr Reddy's Lab bounces back after reporting Q2 results”

Pharma major Dr Reddy's Laboratories Ltd has reported 3 per cent drop in its consolidated net profit at Rs 285 crore in the second quarter ended September 30, 2017 compared with Rs 295 crore in the corresponding quarter of the previous financial year as per International Financial Reporting Standards (IFRS).

Revenue during the quarter fell 1.1 percent year-on-year to Rs 3,546 crore which dented by United States business; but increased 7 percent sequentially. Revenue declined 1.6% to Rs3,559.8 crore in the quarter from Rs3,616.3 crore a year earlier.

Numbers barring revenue were ahead of estimates as profit was estimated at Rs 279.9 crore on revenue of Rs 3,684 crore and operating income was expected at Rs 635.4 crore with margin at 17.2 percent for the quarter, according to average of estimates of analysts polled by CNBC-TV18.

On a sequential basis, Dr Reddy's net profit jumped 4.6 times and revenue increased 6.8% in the September quarter.

The company said revenue growth in North America, the biggest market, fell by 11 per cent YoY to Rs 1,431.8 crore from Rs 1,613.4 crore in the same quarter a year ago.

Domestic revenue was up 2 per cent, but growth in European and Emerging markets stood firm at 36 per cent and 14 per cent, respectively.

Chalke said timely US approval and launch of key products such as generic versions of Copaxone and Nuvaring, and clearance of manufacturing sites that are facing regulatory action from the US Food and Drug Administration (FDA) will be big positives for the company.

At 11:35 hours IST, the stock price was quoting at Rs 2,465.50, up Rs 32.50, or 1.34 percent on the BSE.

Like this



01 November 2017
Local schools march to third place finishes
This year, 35 high schools will be competing, as well as four schools, including Cary high School , performing exhibitions. Meiss commented, "we had a great bunch of hard-working kids this year, and I think we had a really great show".

01 November 2017
Investors Catching Stocks Energy Transfer Equity, LP (ETE)
Analysts, on average, seem bullish as they suggest PE is worth $12.65 more, giving a target price of $38.38 a share. Riggs Asset Managment Inc, Pennsylvania-based fund reported 1,238 shares. 28,000 are owned by Hilton Mngmt Llc.

01 November 2017
China angered over U.S. duties on aluminum foil
The new tariff will affect the type of aluminium foil found in kitchens, packaging and automobiles. The statement will ratchet up tensions between the world's two largest economies ahead of U.S.

01 November 2017
Infosys Limited (INFY) Receiving Somewhat Positive Media Coverage, Study Shows
Oppenheimer Holdings, Inc. reissued a "hold" rating on shares of Infosys Limited in a report on Tuesday, October 24th. Turning to Infosys Limited (NYSE: INFY ), its shares were trading at $15 a retreat of $-0.01, on the trading floor.

01 November 2017
Chicago Bridge & Iron Company NV (CBI) Sees Significant Decrease in Short Interest
Consequently Chicago Bridge & Iron Company N.V. (NYSE: CBI)'s weekly and monthly volatility is 4.78%, 4.12% respectively. Finally, BlackRock Inc. lifted its holdings in Chicago Bridge & Iron Company 51.9% during the second quarter.

01 November 2017
The Standpoint Research Reiterates "Hold" Rating for United Continental Holdings Inc. (UAL)
Renaissance Technologies LLC purchased a new position in United Continental Holdings in the 1st quarter worth about $19,240,000. The market capitalization (Stock Price Multiply by Total Number of Outstanding Shares) for the company is reported at $17.70B.

01 November 2017
Is Philip Morris International, Inc. (NYSE:PM) A Safe Bet For Investors?
The Independent Franchise Partners Llp holds 3.72M shares with $436.33 million value, down from 4.52 million last quarter. Beaufort Securities maintained Anglo Pacific Group plc (LON:APF) on Thursday, May 26 with "Speculative Buy" rating.

01 November 2017
American Assets Trust Inc (AAT): Will The Growth Last?
In the most updated research from a number of analysts on Wall Street, the company gets 9 Buys and 0 Sell among 12 analysts. Finally, Capstone Asset Management Co. raised its stake in shares of American Assets Trust by 1.1% in the second quarter.

01 November 2017
The Hocus Pocus remake does not have Bette Midler's support
The Disney Channel remake of Hocus Pocus will be penned by Scarlett Lacy and is now still in development. The new version of the movie will be written by Scarlett Lacey, and is now in pre-production.

01 November 2017
Revenue Approximations Analysis: Baxter International Inc. (BAX), Kimberly-Clark Corporation (KMB)
Essex Inc invested 0.05% in Dreyfus Strategic Municipal Bond Fund (NYSE:DSM). 3,506 are held by Timber Hill Lc. There are 1,378 institutional holders with active positions, accounting for 254.01 million shares in total.