BSE Code: | NSE Code: | ISIN: | Sector:
Research Report Detail
|Report Date||Call||Price@Call||Target Price
|Current Status||Time Horizon|
|Closed|| Long (1Y)
Nirmal Bang maintains buy on Dr Reddy's Laboratories
Dr Reddy's Lab's net earnings of Rs 126 crore for 1QFY17 were significantly below consensus estimate of Rs 489 crore and our estimate of Rs 454 crore. The steep decline in earnings performance was because of larger-than-expected decline in revenues across geographies and business segments, while expenses rose across all heads. We do not view the earnings underperformance as a fundamental problem with DRL's business.