Dr Reddy’s Q3 profit surges 65.3 percent

  • News Digest
Hyderabad

Feb 2, 2019-

Indian generic drugmaker Dr. Reddy’s Laboratories Ltd posted a 65.3 percent surge in quarterly profit on Friday, handily beating market expectations, helped by strong growth in emerging markets. Third-quarter net profit came in at 5 billion rupees ($70.10 million), compared with 3.03 billion rupees a year earlier, the company said. Analysts on average expected the Hyderabad-based company to post a profit of 3.94 billion rupees, according to Refinitiv data.“We continued to improve our performance in the third quarter, supported by significant growth in emerging markets and India,” Chief Executive Officer GV Prasad said. (REUTERS)

Published: 02-02-2019 13:11

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