The scrip slipped to a low of Rs 1,115 and finally ended at Rs 1,123, down 7% from its previous close. The counter witnessed trades of 1.10 shares on the BSE.
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(Updated at 0921hrs)
Dr Reddy's has opened weak post its December quarter results. The stock is trading at Rs 1152, weaker by Rs 49 or 4.1%, on the BSE. The shares had opened at Rs 1159, which was also the day's high, and a low of Rs 1125 thus far.
The company reported a consolidated net loss of Rs 522 crore in the December 2009 quarter due to a writedown of intangible assets and goodwill in its German arm, Betapharm. The Hyderabad-based company had posted a net profit of Rs 245 crore in the corresponding quarter last year. Income during the quarter was also down 6 per cent, to Rs 1,730 crore from Rs 1,840 crore last year.
On a standalone basis, however, the company posted a net profit of Rs 168 crore, which is 60 per cent higher than the Rs 104 crore in the comparable quarter last year.
