Dr Reddys Q1 net profit marginally up to Rs.145.69 Crores

Dr Reddys Laboratories Ltd has announced the unaudited financial results for the quarter ended June 30, 2007.

The Company has posted a net profit of Rs 1456.90 million for the quarter ended June 30, 2007 as compared to Rs 1318.10 million for the quarter ended June 30, 2006. Total Income (net of excise) has increased from Rs 7721.80 million for the quarter ended June 30, 2006 to Rs 8018.40 million for the quarter ended June 30, 2007.

The Consolidated results are as follows: The Group has posted a net profit attributable to the shareholders of the Parent of Rs 1872.30 million for the quarter ended June 30, 2007 as compared to Rs 1289.20 million for the quarter ended June 30, 2006. Total Income (net of excise) has decreased from Rs 13736.70 million for the quarter ended June 30, 2006 to Rs 12524.90 million for the quarter ended June 30, 2007.

The Consolidated results as per US GAAP are as follows: The Group has posted a net income of Rs 1825.068 million (USD 44.975 million) for the quarter ended June 30, 2007 as compared to Rs 1397.612 million for the quarter ended June 30, 2006. Revenues has decreased from Rs 14049.406 million for the quarter ended June 30, 2006 to Rs 12018.223 (USD 296.161 million) million for the quarter ended June 30, 2007.

The company has reported an Earnings Per Share (EPS) of Rs.8.68 for the Quarter ending June 30, 2007 compared to Rs.17.19 for Quarter ending June 30, 2006.

The stock closed the day at Rs.667.10, down by Rs.1.15 or 0.17%. The stock hit an intraday high of Rs.671 and low of Rs.661.55. The total traded quantity was 50686 compared to 2 week average of 119940.

Source : Equity Bulls

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