Dr Reddy's December Quarter Net Profit Fell 16%

New Delhi: Dr Reddy's Laboratories Ltd, India's second-largest drugmaker by sales, reported a 16 per cent fall in its third quarter profit although it beat expectations.

The company reported a profit of Rs 492 crore ($73.24 million), while analysts, on average, expected a profit of Rs 378 crore, according to Thomson Reuters I/B/E/S.

Sales in North America, Dr Reddy's largest market, fell 15 per cent, while those in India were up 2.4 per cent, the company said in a statement on Saturday.

($1 = Rs 67.1750)

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