Indian drug giant Dr Reddy's Q2 profit up 69%

October 31, 2013

India's second-largest drugmaker Dr Reddy's Laboratories on Tuesday reported a 69.4 percent jump in quarterly net profit, as profit margins rose helped by improved sales.

Dr Reddy's consolidated rose to 6.90 billion rupees ($112 million) for the three months to September, from 4.07 billion rupees a year earlier.

The company, also listed on the New York Stock Exchange, said total revenues rose 17 percent to 33.6 billion rupees, as North American sales surged 43 percent while Russian revenues jumped 44 percent.

The company's gross profit margin rose to 28.3 percent compared to 25.9 percent in the same period last year.

During the quarter, the Hyderabad-based firm launched 19 new generic products and filed 13 new product registrations.

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