Pharma Company Investors at Reddy’s Laboratories have suffered a setback. In fact, Dr. Reddys has released its first quarter results for the current financial year. This has led to a reduction in company profits.
Due to higher expenses, net profit for the quarter ended June 30, 2021 declined by 36 per cent to Rs 380.4 crore. The company had posted a net profit of Rs 594.6 crore a year ago.
Total revenues for the June quarter were Rs 5,053 crore, up 12 per cent from Rs 4,513.6 crore in the year-ago period. Total expenses for the period were Rs 4,513.8 crore, up from Rs 3,620.8 crore in the first quarter of the previous fiscal.
The biggest advantage of waiting! Here is a 20 billion rupee investment millionaire
Disadvantages to Investors: Dr. Reddy’s investors suffered losses in the Indian stock market. On a single trading day, the share price fell by Rs. 4844.35 per share now. In terms of percentage, the loss is 10.44 percent. The company’s market cap dipped to Rs 80,586.74 crore.
