Drug maker Dr Reddy's Laboratories ' second quarter consolidated net profit fell 16.8 percent to Rs 574 crore compared to Rs 690.2 crore in the year-ago period. Profit was slightly above estimates but topline and operational performance missed street expectations. Profit was expected at Rs 537 crore on revenue of Rs 3,702 crore (up 10.3 percent) for the quarter, according to the average of estimates of analysts polled by CNBC-TV18. Net sales grew by 6.9 percent to Rs 3,588 crore in the quarter ended September 2014 compared to Rs 3,357 crore in same quarter last year. Consolidated operating profit during the quarter declined 12.2 percent year-on-year to Rs 646.5 crore and margin dropped 400 basis points to 18 percent as against expectations of Rs 800 crore (up 8.8 percent) and 21.6 percent, respectively.
No comments:
Post a Comment