New Delhi Feb 14: Dr. Reddy's Laboratories, India's No.2 drug maker by sales, on Thursday reported a less-than-expected 29.2 per cent drop in quarterly net profit. The drop in revenues is attributed to mute sales in North America market.
Consolidated revenue, at Rs 2,865 crore, up 3.5 percent from a year ago, was also lower-than-expected. At the same time, operating profit plunged significantly to 15.8 percent from 27.2 percent and analysts expectation of 21 percent.
