Dr Reddy’s Laboratories, has posted a 28.86% YoY decrease in net profit at Rs.334 crore for the quarter ended December 31.2017. Last year, in the corresponding quarter it had posted a net profit of Rs.470.01 crore.

Revenue for the quarter was at Rs.3,806 crore, which increased 7% on YoY basis and 3% on sequential basis. Gross margin for the quarter decreased to 53.3% from 59.1%, in the corresponding quarter last year.

Further, the company in a BSE filing stated that, gross profit margins were up nearly 300 basis points sequentially, due to better product mix and on receipt of Rs.130 crore in proprietary products. While, the YoY decrease was due to higher price erosions, increased competitive intensity in some of the company’s key molecules in the US and adverse foreign exchange.

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