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Dr. Reddy’s reports 37 percent jump in profit for 2nd quarter

New Delhi, Oct 23 (IANS) Pharmaceutical major Dr. Reddy’s Laboratories Saturday reported a net profit of Rs.2.9 billion ($64 million) for the quarter ended Sep 30, which adds up to a 32 percent increase over the like period of the previous year.

In a filing with stock exchanges, the company said its consolidated revenues registered a marginal year-on-year growth of 2 percent for the quarter under review at Rs.18.7 billion ($420 million) against Rs.18.4 billion ($412 million) in like period last year.

During the year, the company launched 41 new generic products, filed for 21 new product registrations and gave confidential information on 13 processes, facilities and related information to regulators globally.

According to the pharmaceutical major, revenues from global generics segment grew 8 percent at Rs.13.7 billion, while that for custom pharmaceutical services and active ingredients stood at Rs.4.6 billion.

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