The Hindu·3 min read·hard
Dr. Reddy’s Q1 net plunges 69% to ₹435.6 cr on lower revenue
T
The Hindu Bureau
✦AI Summary
Dr. Reddy’s Laboratories reported a 69% drop in net profit for the June quarter, totaling 435.6 crore rupees. The decline is attributed to lower sales of the cancer drug lenalidomide and a 240 crore rupee provision for quality issues with semaglutide.
Hyderabad-based generic drugmaker Dr. Reddy’s Laboratories’ consolidated net profit slumped 69% year-on-year (YoY) to ₹.435.6 crore in the June quarter amid lower sales of cancer drug lenalidomide and nearly ₹240 crore provision necessitated by recent quality issue around weight loss drug Semaglutide.
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