Dr Reddy’s Q3 net profit falls 38% to Rs 303 crore

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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.

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