During the period, its EBITDA fell 43.9 percent at Rs 640 crore against Rs 1140.4 crore while margin was at 17.9 percent versus 28.4 percent year-on-year (YoY).
Performance of Dr Reddy's Laboratories in July-September quarter was expected to be weak with profit falling 59 percent year-on-year to Rs 298 crore on poor operational performance.
Dr Reddy's Labs has posted net profit of Rs 309 crore in July-September quarter down 60.1 percent from Rs 774.7 crore in corresponding quarter last fiscal. Its consolidated revenue also slipped 10.1 percent at Rs 3616.3 crore compared to Rs 4020.7 crore on annual basis.
All our major businesses have shown sequential improvement over the previous quarter with revenues growing 11 percent and EBITDA by 61 percent. We have made considerable progress in our remediation efforts and continue to work on addressing concerns of the regulators,” GV Prasad , Co-chairman and CEO of the company said.
According to analysts polled by CNBC-TV18, revenue during the quarter was seen falling 14 percent to Rs 3,426 crore on yearly basis.
