The company had reported a net profit of Rs 774.7 crore in the same period last year.
The total revenue of the firm too came down by 10 per cent at Rs 3,616 crore against Rs 4,020.7 crore during the corresponding quarter a year ago.
Hyderabad: Dr Reddy’s Laboratories on Tuesday said its net profit for the quarter ended September 30 fell by 60 per cent to Rs 308.9 crore due to decline in sales in overall markets and pricing pressure in its key North American market.
The company had reported a net profit of Rs 774.7 crore in the same period last year. The total revenue of the firm too came down by 10 per cent at Rs 3,616 crore against Rs 4,020.7 crore during the corresponding quarter a year ago.
“US FDA warning letter has hit the new product launches in the USA. That has affected the performance,” Saumen Chakraborty said.
( Source : PTI )
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