Culture

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.

More news: The Avis Budget Group Inc. (CAR) Director Sold $27140.36 in Stock

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

loading...
loading...

Latest


01 November 2017
Gunman accused of shooting into vehicle in Riverdale, narrowly missing young child
He was wearing dark trousers , black bubble vest or jacket, red straight-brimmed hat with hood over and possibly white shoes. Roads were closed in the area for most of the evening to accommodate a police investigation but all have since reopened.

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
Dissidia: Final Fantasy NT Overview Trailer Released by Square Enix
Square Enix has announced that last year's World of Final Fantasy will be hitting Steam just in time for the holidays. The World of Final Fantasy will not be releasing as a full-priced game either but will instead be $39.99 on Steam.

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
Daily direct flight to be offered between Little Rock and Washington DC
The flights will be operated on American's newest aircraft, the 76 seat, dual class configured EMB-175. American Airlines now operates nonstop service from Montgomery to Dallas, Texas and Charlotte, N.C.

01 November 2017
Xylem Inc. (XYL) Announces Quarterly Earnings Results
In related news, insider Tomas Brannemo sold 8,524 shares of the business's stock in a transaction dated Wednesday, August 17th. Stifel Nicolaus restated a "hold" rating and issued a $52.00 target price on shares of Xylem in a report on Thursday, July 6th.

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.

01 November 2017
Parents being warned of potential fire risk of Halloween costumes
Lighting up your jack-o-lanterns or walkways: It is much safer to use battery-operated lights in your pumpkins than open flames. The Charlottesville Fire Department says twice as many kids are killed walking on Halloween than any other day of the year.