HYDERABAD, Jan 21 (Reuters) – Indian drugmaker Dr Reddy’s reported a smaller-than-expected fall in quarterly profit on Wednesday on steady domestic demand.
The company’s consolidated net profit fell 14.4% to 12.1 billion rupees ($132 million) in the quarter ended December 31. Analysts, on average, had estimated profit to fall to 10.70 billion rupees, as per data compiled by LSEG.
This is the drugmaker’s first quarterly profit fall in five quarters.
($1 = 91.6650 Indian rupees)
(Reporting by Rishika Sadam and Kashish Tandon; Editing by Janane Venkatraman)
