Dr Reddy's posts flat growth in Q3 net profit
Company, however, posted a three per cent growth in revenue at Rs 3,967.9 crore in Q3FY16.
Hyderabad: Hit by weak sales in the emerging markets, Dr Reddy’s Laboratories on Tuesday posted almost flat growth in consolidated net profit at Rs 579 crore for the third quarter as against Rs 574.5 crore in the yearago period.
The company, however, posted a three per cent growth in revenue at Rs 3,967.9 crore in Q3FY16 compared to Rs 3,843 crore in the yearago period.
“Despite multiple challenges, we have had a satisfactory quarter in terms of our financial performance. All of our key markets continue to perform well and show healthy growth,” DRL co-chairman and CEO G.V. Prasad said.
However, its performance has been impacted due to diverse macro economic conditions across key emerging market territories, he added. Its revenue from the emerging markets declined down 28 per cent in the period under review.