Dr Reddy's Reports Seven-Fold Surge In April-June Profit, Beats Analysts' Forecasts

Drugmaker Dr Reddy's Laboratories posted an over seven-fold rise in first-quarter net profit on Thursday, handily beating market expectations, aided by the launch of a generic version of an opioid addiction drug.

Net profit came in at Rs 476 ($69.31 million) in the quarter ended June 30, compared with Rs 66.6 crore a year earlier, the company said.

Analysts on average had expected a net profit of Rs 298 crore, according to estimates compiled by Thomson Reuters.

($1 = Rs 68.6750)

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