Dr Reddy’s Q1 Results LIVE: Net Profit Rises 18% To Rs 1,402 Crore, Beats Estimates | CNBC TV18

Pharma major Dr Reddy's Laboratories on July 26 reported an 18.1 percent rise in net profit at Rs 1,402.5 crore for the quarter that ended June 30, 2023, despite a high base of Rs 1,187.6 crore during the same period a year ago.

The company had a one-time gain of $72 million in the base quarter that it had received from British drugmaker Indivor as a settlement for a patent litigation for the generic drug Suboxone.

Moreover, the net profit also topped the Street’s estimate of Rs 944.1 crore.

Revenue for the drugmaker rose 29.2 percent to Rs 6,738.4 crore as against Rs 5,215.40 crore in the year-ago period. The Street had pegged revenue for the company at Rs 6,458 crore for the quarter under review.

#drreddyslaboratories #Q1FY24earnings #Q1FY24results #cnbctv18 #businessnews #businessnewstoday #businessnewsinenglish #sharemarkettoday

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