Monday, 6 February 2017

Dr. Reddy`s Lab falls 3% on disappointing Q3

Ripples Advisory Private Limited, Indore @9303093093

Shares of Dr. Reddy's Laboratories dipped nearly 3 per cent on the Bombay Stock Exchange after the drug maker reported a decline of 19 per cent in its consolidated net profit at Rs 470 crore in the December quarter, from Rs 579 crore in the same period a year ago. Weighed down by weak Q3 earnings, shares of company declined as much as 2.92 per cent to hit intra-day low of Rs 3,049.70 apiece on Bombay Stock Exchange. 

In a similar fashion, stocks of company dipped 1.73 per cent to Rs 3,090.05 apiece on the National Stock Exchange. Meanwhile, the broader benchmark BSE Sensex was trading at 28,452.65, up 212.13 points, or 0.75 per cent.

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