Dr Reddy's Q3 net profit falls 38% to Rs 303 crore
Dr Reddy's Laboratories today posted a 38.51 per cent decline in consolidated net profit at Rs 302.7 crore for the third quarter ended December 31.
The company had posted a net profit of Rs 492.3 crore during the same period of previous fiscal.
Its total revenue from operations stood at Rs 3,834.1 crore for the quarter under review. It was Rs 3,723.2 crore during the third quarter of 2016-17, Dr Reddy's Labs said in a regulatory filing.
The company said total revenue from operations for the quarter was not comparable consequent to introduction of Goods and Services Tax on July 1.
"Revenue from operations for the earlier periods (before July 1) included excise duty which is now subsumed in GST," it added.
Shares of Dr Reddy's Labs were trading at Rs 2,490 apiece on BSE, down 2.80 per cent from previous close.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
SBI 444-day FD vs Union Bank of India 333-day FD: Know maturity amount on Rs 4 lakh and Rs 8 lakh investments for general and senior citizens
Power of Compounding: Salary Rs 25,000 per month; is it possible to create over Rs 2.60 crore corpus; understand it through calculations
New Year Pick by Anil Singhvi: This smallcap stock can offer up to 75% return in long term - Check targets
Power of Compounding: How many years it will take to reach Rs 2 crore corpus if your monthly SIP is Rs 3,000, Rs 4,000, or Rs 5,000
Retirement Calculator: 40 years of age, Rs 50,000 monthly expenses; what should be retirement corpus and monthly investment
02:12 PM IST