Latest News | Dr Reddy's Shares Tumble over 10 Pc Post Earnings Announcement
Get latest articles and stories on Latest News at LatestLY. Shares of Dr Reddy's Laboratories on Tuesday tumbled over 10 per cent after the company reported a 36 per cent decline in consolidated net profit for the quarter ended June 30, 2021.
New Delhi, Jul 27 (PTI) Shares of Dr Reddy's Laboratories on Tuesday tumbled over 10 per cent after the company reported a 36 per cent decline in consolidated net profit for the quarter ended June 30, 2021.
The company's stock plummeted 10.44 per cent to close at Rs 4,844.35 on the BSE.
During the day, it tumbled 11.61 per cent to Rs 4,781.
On the NSE, it plunged 10.31 per cent to close at Rs 4,853.20.
Dr Reddy's Laboratories on Tuesday reported a 36 per cent decline in consolidated net profit at Rs 380.4 crore for the quarter ended June 30, 2021, on account of higher expenses.
The pharma major had posted a net profit of Rs 594.6 crore in the corresponding period a year ago.
Total income during the June quarter of the current fiscal stood at Rs 5,053 crore, up 12 per cent as against Rs 4,513.6 crore in the year-ago period, Dr Reddy's Laboratories said in a filing to BSE.
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