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Dr Reddy's net up 29 pc at Rs 133 million

Dr Reddy's laboratories has posted 29 per cent higher net profit of Rs 133.7 million for the third quarter as against Rs 104 million for the same period last year.

The company said in a statement, the net profit for the first nine months of the financial year increased by 30 per cent to Rs 516.6 million from Rs 372.5 million. An amount of Rs 25 million has been set aside during the quarter as provision towards export receivables took total provision to Rs 125 million.

Sales grew by 27 per cent in the nine-month period, touching Rs 3.13 billion as against Rs 2.47 billion in 1997-98. Third quarter sales of Rs 896.6 million which increased from Rs 758.2 million.

UNI

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