Dr Reddys Labs gains 7% as profit grows 30% YoY in Q2, margins expand

Dr Reddy's global generic business grew 19 per cent YoY to Rs 4,743 crore driven by covid portfolio, new product launches and base business volume traction across key markets.

Shares of Dr Reddy's Laboratories moved higher by 7 per cent to Rs 4,877 on the BSE in Friday's intra-day trade after the company reported 30 per cent year-on-year (YoY) growth in profit after tax (PAT) at Rs 992 crore in September quarter (Q2FY22), aided by healthy revenue growth. The pharmaceutical company had reported a profit of Rs 762 crore in the year-ago quarter.

At 02:12 pm, the stock was trading 5 per cent higher at Rs 4,820, as compared to a 1.3 per cent decline in the S&P BSE Sensex. It had hit a 52-week high of Rs