Dr Reddy's slips over 10% post June quarter results, anonymous complaint

Gross profit margin decreased by 380 bps over the previous year and 150 bps sequentially, majorly on account of price erosion and increase in inventory provisions related to few products

Shares of Dr Reddy’s Laboratories (DRL) hit over three-month low as they fell over 10 per cent to Rs 4,844 levels on the BSE on Tuesday, after the company reported a 1 per cent year-on-year (YoY) decline in its consolidated net profit at Rs 570.8 crore in the June quarter (Q1FY22). The drugmaker had posted a profit of Rs 579.3 crore in the year-ago quarter. The stock was trading at its lowest level since April 19, 2021. Meanwhile, an anonymous complaint against the company also created panic among investors.

Ebitda (earnings before interest, taxes, depreciation, and amortization) margins were down 560