Dr Reddys Laboratories today reported a 41% decline in consolidated net profit at Rs 62.55 crore for the third quarter ended December 31, 2007 when compared with Rs 105.63 crore in Q3FY07.According to a release issued to the BSE today, total income declined to Rs 1,265.98 crore from Rs 1,521.48 crore in Q3FY07.The company, on a stand-alone basis, posted a net profit of Rs 42.29 crore for the quarter ended December 31, 2007 when compared with Rs 503.49 crore for the quarter ended December 31, 2006. Total income declined to Rs 820.68 crore Rs 1,212.11 crore in Q3FY07.According to US GAAP, the group has posted a net loss of Rs 84.66 crore for the quarter ended December 31, 2007 as against a net profit of Rs 187.94 crore for the quarter ended December 31, 2006. Revenues declined to Rs 1,231.96 crore from Rs 1,543.42 crore for the quarter ended December 31, 2006, the release added.