Dr Reddy’s Laboratories Ltd on Tuesday, 5 November, announced its quarterly earnings for the July-September quarter. 

The company reported a 15% year-on-year (YoY) decline in net profit to Rs 1,255 crore due to continuing competitive pricing pressure in the North American market, which is the company’s biggest revenue. 

However, the company’s revenue increased by 17% to ₹8,016 crore. Dr Reddy’s attributed this growth in North American sales mainly to higher volumes, though it noted some offset from price erosion.

G V Prasad, MD and Co-Chaiman of Dr Reddy’s, said, “We delivered another good quarter and maintained the growth momentum across businesses. We made progress on our future growth drivers, operationalised our venture with Nestle and completed the acquisition of Nicotinell and related brands. We will continue to drive efficiency, strengthen our core businesses, and positively impact patient lives through science and innovation.”

Generic drug makers like Dr Reddy’s, Cipla, and Zydus have been facing challenges in the U.S. market due to delayed approvals for new generic drug applications and lower prices driven by intense competition.

Unlock profitable opportunities every day! Unicorn Signals provides actionable intraday trading signals for stocks and futures. Don’t miss out – download Unicorn Signals and start winning now!