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Saturday, March 28, 2020

Dr Reddy’s Laboratories posts Q3 loss at Rs 570 crore

The consolidated revenues of the company in the October-December period increased to Rs 4,383.8 crore, over Rs 3,850 crore in the year-ago period, Dr Reddy's Laboratories said in a filing to BSE.

By: PTI | New Delhi | Published: January 27, 2020 12:54:05 pm
The company had posted a profit of Rs 485.2 crore in the year-ago period, Dr Reddy’s Laboratories said in a filing to BSE. (File photo)

Dr Reddy’s Laboratories on Monday reported a consolidated loss of Rs 569.7 crore for the quarter ended December 2019.

The company had posted a profit of Rs 485.2 crore in the year-ago period, Dr Reddy’s Laboratories said in a filing to BSE.

The consolidated revenues of the company in the October-December period increased to Rs 4,383.8 crore, over Rs 3,850 crore in the year-ago period, the filing said.

“The current quarter performance has been good across all our businesses and we achieved strong earnings before interest, taxes, depreciation and amortisation (EBITDA) margins,” the company’s Co-Chairman and MD GV Prasad said in a statement.

The profits were impacted due to trigger-based impairment charge taken on a few products including gNuvaring, he said, adding that the company continues to focus on execution and has made significant progress on quality systems and operational efficiencies.

The shares of Dr Reddy’s Laboratories were trading at Rs 3,088.40 apiece on BSE, up 1.99 per cent from the previous close.

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