Dr Reddy's Q2 net up 77% to Rs 5 bn on one-off gains, forex movement

Revenues up 7% to Rs 38 bn despite a flat-to-negative growth in US and European sales; Emerging markets and India compensate

Drug major Dr Reddy's Laboratories Limited has reported a 77 per cent jump in net profit to Rs 5.04 billion for the quarter ended September 2018 as compared with Rs 2.9 billion in the corresponding quarter previous year on the back of certain one-off gains and a favourable Forex movement.

The company's revenues rose 7 per cent to Rs 37.97  billion in the quarter under review despite a flat to negative growth in US and European sales with emerging markets and India compensating well for the subdued performance in other markets.

Despite the currency leverage, revenues from North America remained flat at