Dr Reddy's slips 3% post Q3 numbers, top Sensex loser

Shares of Dr Reddy’s slipped 3% as compared to 0.8% rise in Sensex after the drug major reported a consolidated net profit of Rs 470 crore in the December quarter, registering a 19% decline from Rs 579 crore in the same period a year ago.

Reacting to the numbers, the stock shed as much as 3% to Rs 3,050 on the BSE, and was the top Sensex loser. 

The company’s revenues for the quarter under review were down 7% 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