Dr Reddy's Lab shares down 1.5% post Q3 earnings

Shares of Dr Reddy's Laboratories today fell by 1.5 per cent after the company said its net profit for the December quarter was down by 19 per cent to Rs 470 crore (as per IFRS).
The stock slipped 1.49 per cent to end at Rs 3,094.80 on BSE. During the day, it went down by 2.92 per cent to Rs 3,049.70.
On NSE, it declined by 1.51 per cent to close at Rs 3,096.80.
Dr Reddy's Laboratories on Saturday said its net profit for the December quarter was down by 19 per cent to Rs 470 crore (as per IFRS) against Rs 579 crore during the corresponding quarter of last fiscal owing to drop in North American sales.

Saumen Chakraborty, President, CFO and Global Head of HR said revenues for Q3 FY17 dropped by 7 per cent to Rs 3,707 crore as against Rs 3,968 crore in Q3 FY16.