Dr Reddy's share price gains over 2% after Q1 earnings

Shares of Dr Reddy's Laboratories today rose by over 2 per cent after the company reported nearly eight-fold jump in consolidated net profit for the first quarter of 2018-19 fiscal.

The stock gained 2.19 per cent to close at Rs 2,134.65 on BSE. During the day, it climbed 4.83 per cent to Rs 2,189.95.

On NSE, it rose by 1 per cent to end at Rs 2,110.

The company's market valuation went up by Rs 750.87 crore to Rs 35,421.87 crore.

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Dr Reddy's today reported nearly eight-fold jump in consolidated net profit to Rs 456.1 crore for the April-June quarter of 2018-19 on robust sales.

It had posted net profit of Rs 59.1 crore in the year-ago period. Its consolidated revenue was Rs 3,720.7 crore in the April-June quarter in the current fiscal, as against Rs 3,315.9 crore a year ago.