Dr Reddy's Lab shares continue to fall, down over 3 pc

Shares of Dr Reddy's Laboratories

fell for the third straight session today, down over 3 per

cent, after the drug firm reported a 56.61 per cent dip in

consolidated net profit for the June quarter.

The stock dipped 3.11 per cent to settle at Rs 2,385.50

on BSE. During the day, it lost 3.41 per cent to Rs 2,378 --

its 52-week low.

On NSE, shares of the company slipped 3.31 per cent to

end at Rs 2,383.20.

In the past three days, the stock has lost nearly 12 per

cent, wiping out Rs 5,398.96 crore from its market valuation.

Dr Reddy's Laboratories on Thursday reported a 56.61 per

cent fall in consolidated net profit to Rs 66.6 crore for the

quarter ended June, mainly on account of lower revenues from

the US and impact of GST in India.

The company had posted a net profit after taxes and share

of profit of associates of Rs 153.5 crore for the same period

of the previous fiscal, Dr Reddy's Laboratories had said in a

BSE filing.

Consolidated net sales of the company stood at Rs 3,248.9

crore for the quarter under consideration. It stood at Rs

3,185.7 crore for the corresponding period a year ago.

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)