Dr Reddy's Q3 net profit down 19% at Rs 470 crore

Decline was due to fall in revenues from US, its key market in terms of generic sales and margins

Indian generic pharmaceutical major Dr Reddy's Laboratories Limited has reported a 19 per cent decline in consolidated net profit at Rs 470.1 crore for the quarter ended December 2016 due to fall in revenues from the US, its most important market in terms of global generic sales and margins.

Dr Reddy's revenues for the quarter under review were down 7 per cent to Rs 3,706.5 crore from Rs 3,967.9 crore in the corresponding quarter previous year. However, on a sequential basis, the gross profit margin for the quarter rose to 59.1 per cent, almost close to the levels in the