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Dr Reddy’s Labs Q2 results

Dr Reddy’s Laboratories has announced its second quarter numbers. It has posted consolidated net profit of Rs 267.2 crore for the quarter ended September 2007 as against Rs 279.8 crore in same quarter of last year (US GAAP).

Consolidated net sales declined to Rs 1,267 crore from Rs 2,003.9 crore (US GAAP).

Forex gain was at Rs 25 crore and income tax benefit at Rs 124.8 crore.

Q2 revenue from Germany was down to Rs 190 crore from Rs 260 crore and revenue from Russia at Rs 98 crore.

R&D expenses increased to Rs 81 crore from Rs 40.2 crore and bulk drug revenue was up 11.5% to Rs 320 crore.

Consolidated net profit included Betapharm tax reversal of Rs 150 crore.


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