Dr Reddy's Marginal Profit Hike Amid Market Pressures

Dr Reddy's Laboratories announced a 1% rise in consolidated net profit for the June quarter, reaching Rs 1,410 crore, slightly up from Rs 1,392 crore in the same period last year. Revenue during the reviewed period climbed to Rs 8,545 crore from the previous year's Rs 7,673 crore.

Addressing the results, Co-Chairman & MD G V Prasad highlighted the company's success in achieving double-digit growth, driven by its performance in branded markets and momentum in its Nicotine Replacement Therapy portfolio. However, he cautioned about increasing pricing pressures in the US generics market, particularly concerning Lenalidomide.

Prasad emphasized the company's focus on strengthening its base business by advancing its pipeline assets, enhancing productivity, and furthering business development. On the BSE, company shares saw a minor rise, closing at Rs 1,247.55 per share, up by 0.58%.

(With inputs from agencies.)