Dr Reddy’s Laboratories net profit slumps 3.3% YoY to Rs.302.2 crore, for the quarter ended March 31,2018.

The company in the same quarter last year, had reported a net profit of Rs.337.6 crore. Revenue during the quarter grew 1% to Rs.3,534.9 crore, as against Rs.3,498.5 crore a year ago. During the quarter, the company launched three new products: palonosetron injection, tetrabenazine and OTC levocetrizine.

Further, GV Prasad, Chairman, CEO and Co-chairman of Dr Reddy’s stated, “We concluded a challenging year for Dr Reddy’s with a relatively muted fourth quarter’s performance. This was mainly on account of continuing headwinds in the US markets and a temporary drop in sales in Russia, attributable to a shift in the channel purchasing pattern.”

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