Dr Reddy's Q2 net up 32% on US market surge

Mumbai: Drugmaker Dr Reddy's Laboratories reported a 32.4 percent rise in quarterly net profit, beating estimates, as sales in its key North America market surged.

The drugmaker said consolidated net profit rose to Rs 407 crore during the fiscal second quarter ended September from Rs 308 crore a year earlier. Income from sales and services rose 27 percent to Rs 2,881 crore, it said.

  Dr Reddys Q2 net up 32% on US market surge

Making money. Getty Images

Analysts, on an average, expected the net profit at Rs 373 crore on net sales of Rs 2,783 crore.

At 2.30pm, when this report was being prepared, the stock was trading at Rs 1,732 per share, up 2.11 percent from the previous close of Rs 1,696.15 at the Sensex.

Reuters

Updated Date: Dec 20, 2014 13:12:27 IST